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Tuesday, 17 September 2019

CBE announces four key pillars to its financial inclusion strategy going forward

Central bank Sub-Governor Lobna Helal laid out the pillars of the CBE’s financial inclusion strategy in a speech (pdf) at the meeting of the Council of Arab Central Banks and Monetary Agencies Governors earlier this week. The first pillar was strengthening the CBE’s regulatory and supervisory role in the banking sector, through legislative amendments (a likely reference to the Banking Act). Next, the strategy will rely on raising awareness on financial inclusion, through initiatives that target those most in need. The third pillar involves creating a business-friendly environment by helping out SMEs. Finally, the strategy will see the CBE promoting the use of fintech.

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