CBE launches new fund to drive transformation, competitiveness in banking sector

The CBE said the fund aims to align the country’s financial sector with international standards, accelerate digital transformation, and improve efficiency across the system.

The fund’s board of directors, chaired by CBE Governor Hassan Abdalla, will serve a four-year term and include figures from banking, technology and business. The central bank said the board’s formation reflects efforts to promote closer cooperation between financial institutions and the broader economy.

At the fund’s inaugural meeting, Abdalla outlined its strategic priorities, governance framework and work plan. He said the initiative underscores the CBE’s vision to elevate Egypt’s banking system to meet international standards of innovation, cybersecurity, and operational excellence.

He added that the fund will play a vital role in supporting the ongoing modernization of the financial ecosystem, including the adoption of advanced technologies and the development of human capital.

“By engaging expertise from both banking and non-banking sectors, the Central Bank aims to create a comprehensive framework that promotes financial stability and sustainable growth,” he added.