In a message delivered at the opening of the 12th International Conference on Digital Payments, Financial Inclusion, and Digital Banking (PAFIX), Central Bank of Egypt (CBE) Governor Hassan Abdalla affirmed the country’s commitment to accelerating its digital finance transformation.
Speaking on his behalf, Mohamed Amer, Acting Deputy Governor for Banking Operations and Payment Systems, outlined a sweeping vision for a less cash-dependent, more inclusive financial ecosystem powered by artificial intelligence, fintech innovation, and national payment infrastructure.
“The digital shift is no longer a technical upgrade; it’s a strategic lever for growth, transparency, and inclusion,” Amer said, emphasizing that the CBE is executing a comprehensive strategy to modernize payment systems, expand access, and build a future-ready digital economy.
The speech comes amid record growth in financial inclusion, which reached 76.3% in June 2025, up from just 27.4 percent in 2016, marking a 214 percent surge. The CBE’s initiatives have also driven a 395 percent increase in SME-targeted financing portfolios over the same period.
Among the key milestones highlighted:
- Mobile and internet banking now serve 18 million users, with 114 million transactions totalling EGP 11.7 trillion by end-2024.
- Meeza national card system surpassed 43.5 million issued cards by June 2025.
- InstaPay and the instant payments network processed over 1.1 billion transactions worth EGP 2.4 trillion, with 16 million users.
- Meeza Digital wallets reached 55.5 million accounts, executing 1.4 billion transactions worth EGP 1.8 trillion.
- Apple Pay and contactless tokenization enabled 40 million transactions worth EGP 32 billion, with Android rollout underway.
Amer also announced progress on the eKYC project, which will establish a national digital financial identity and allow secure remote onboarding for banking services.
“This is a gateway to broader access, especially for underserved segments,” Abdalla said.
The CBE’s fintech strategy, launched in 2019, continues to balance innovation with financial stability. A behavioural credit scoring model developed with I-Score now uses alternative data and AI to expand lending access. Supervisory tech (SupTech) tools are also being upgraded to enable real-time monitoring and data-driven decision-making.
Human capital development remains central. The Bank’s FinYology initiative has engaged 19,000 students across 30 universities, generating over 900 fintech projects with support from 18 banks. The Digital Academy and a new banking sciences bachelor’s program launching in FY20252026 aim to build a future-ready workforce.
Entrepreneurship support includes the Regulatory Sandbox, the Nclude Fund for fintech startups, and the NilePreneurs initiative, which provides digital transformation support to MSMEs nationwide.
Concluding the address, Amer thanked all contributors to the conference, expressing hope that its discussions would “advance the digital transformation journey and build a more innovative and prosperous future for Egypt”.
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