Last Update 17:8
Friday, 15 November 2019

CBE governor: Banking sector set to pump EGP 4 trillion into Egypt’s projects

MENA , Thursday 7 Nov 2019
Share/Bookmark
Views: 1806
Share/Bookmark
Views: 1806

The Egyptian banking sector enjoys huge liquidity, exceeding EGP four trillion, and is ready to pump it into different projects, especially startups, Governor of the Central Bank of Egypt (CBE) Tarek Amer said Wednesday.

Amer’s remarks came during a press conference to officially launch the first competition for startups in Egypt. Communications Minister Amr Talaat and France’s Ambassador to Egypt Stéphane Romatet were present during the event.

The competition, whose prizes amount to EGP 450,000, aims to give the opportunity for Egyptian startups to achieve development in the fields of health, sustainable cities and digital transformation, among others.

Encouraging the startups and entrepreneurs could spur the economy and create more jobs for the youths, the CBE governor said.

CBE embraces the innovative ideas for startups using the state of the art technologies, Amer said, adding that technology has turned to an integral part in banking operations and could make a profound shift in banking activities.

The French participation in the competition and the Egyptian economy in general proves the close cooperation between the two countries, he noted. 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.