(MENAFN- Daily News Egypt) We are also discussing with the CBE offering new products in the areas of financial technology (FinTech) and innovation. I have discussed this matter with the CBE team during my recent visit to Egypt.
How do you see Egypt's steps to achieve financial inclusion?
The EBRD pays great attention to financial inclusion in its activities in Egypt. Women business and youth programmes are part of the financial inclusion. For us, financial inclusion is a key theme in Egypt.
What do you think of CBE's plans to float some public banks?
The EBRD is closely following the CBE and the Egyptian authorities' IPO plans of some banks. We know about the Banque de Caire's offering and we are closely following it.
However, we hope that the IPO process is faster than it is. Privatisation is important not only in the banking sector but also in other sectors.
How do you see the CBE's initiatives to support SMEs?
The SME sector is very large and has many needs. Supporting SMEs is very positive. The CBE announced EGP 25bn initiative to the SMEs at subsidised interest rates. There is also another CBE initiative of EGP 5bn for the medium-sized companies. For us, we continue to play our role in collaboration with the banks operating in the local market to support the SME sector.
<>
MENAFN1707201901530000ID1098768223
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.