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.
Four-year board term
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.
Legal framework and objectives
Created under Law No. 194 of 2020, which regulates the CBE and the banking sector, the fund has independent legal and financial status and covers all banks operating in Egypt.
Its objectives include strengthening national payment systems, expanding digital and fintech infrastructure, improving cybersecurity readiness, and promoting financial literacy and inclusion.
The fund is also authorized to establish or invest in companies, and to enter into cooperation agreements and memoranda of understanding with local and international institutions to share expertise and coordinate development projects.
Economic context
The CBE said the initiative represents a key step in keeping Egypt’s financial sector competitive and adaptive to global economic and technological shifts, while maintaining its role in supporting sustainable growth.
It comes as Egypt begins implementing its Narrative for Economic Development, a five-year plan targeting 7 percent real GDP growth and the creation of 1.5 million jobs. The strategy identifies monetary policy, overseen by the central bank, as a cornerstone alongside fiscal policy and governance reforms.
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