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Monday, 09 December 2019

Central Bank of Egypt delegation visits Sweden to learn about Swedish experience in financial technology

Ahram Online , Thursday 31 May 2018
Egypt's Deputy Central Bank Governor Lobna Helal during the visit to Sweden
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A delegation from the Central Bank of Egypt (CBE) started on Thursday a two-day visit to Sweden to learn from the Swedish experience and success in the field of financial technology.

The visit was organised in cooperation with the Swedish Embassy in Cairo and the Swedish Council for Trade and Investment.

The visit comes within the framework of the CBE's efforts to become a leader in financial technology and encourage a shift towards electronic financial transactions to achieve financial inclusion for the maximum number of citizens.

Lobna Helal, the deputy governor of the Central Bank of Egypt, is heading the CBE delegation, which includes members the Anti-Money Laundering and Terrorism Finance Unit.

"The Central Bank of Egypt is determined to continue its pioneering role in financial technology in order to achieve the main objective of offering savings for all levels of society, especially marginalised groups," Helal said in a statement.

Helal added that the CBE is also looking to achieve "sustainable development by creating the necessary atmosphere for the growth and development of financial technology, as well as benefit from the promising international experiences in this field, such as the Swedish experience."

The Egyptian delegation held several meetings with the deputy governor of the Central Bank of Sweden and the general director of the Swedish Financial Supervisory Authority.

The delegation also visited the Stockholm Centre for Financial Technology, as well as a number of start-up companies and electronic payment providers.

The CBE delegation discussed the nature of Sweden's financial technology market and the role of Scandinavian financial technology centres in encouraging the use of financial technology solutions.

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