(MENAFN- Daily News Egypt) In a significant move to boost financial literacy and empower citizens, the Central bank of Egypt (CBE) has launched a new campaign aimed at increasing financial awareness and improving citizens' ability to make informed financial decisions. The initiative is in collaboration with the European Union (EU), GIZ Egypt (on behalf of the German Government), and the Egyptian banking Institute (EBI).
The campaign, which focuses on simplifying complex financial concepts, will include educational content on financial inclusion, banking products, and services. The goal is to enhance public trust in the banking sector and provide citizens with the knowledge they need to make sound financial choices. This initiative supports the CBE's Financial Inclusion Strategy, which is integral to Egypt's broader efforts to promote inclusive economic growth.
Aligned with the Egyptian government's broader goals, the campaign seeks to promote financial inclusion for diverse groups, including women, youth, people with disabilities, the elderly, farmers, and entrepreneurs. Financial literacy is seen as a critical tool to empower these groups to engage with the formal financial system and make informed financial decisions that will improve their lives and businesses.
The CBE highlights that the Financial Literacy Campaign is a key component of its ongoing efforts to drive Egypt's economic development by making financial services more accessible to all segments of society. The campaign builds on the CBE's Financial Inclusion Strategy, which aims to reduce barriers to banking access and ensure that Egyptians from all walks of life can participate in the country's financial system.
This campaign is part of the broader“Strengthening Financial Inclusion and Banking Supervision in Egypt” project, which was launched in November 2018. The project is supported by GIZ Egypt, in collaboration with the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ). Together, the partners aim to provide targeted assistance to enhance financial inclusion and banking regulation in Egypt, fostering an environment in which citizens and businesses can thrive.
The financial literacy content developed for the campaign includes key topics such as financial inclusion, entrepreneurship, consumer protection in financial services, inflation, and payment systems. These subjects will be presented in a way that is accessible to a wide audience, helping people understand the tools and resources available to them for managing their finances effectively.
One of the primary objectives of the campaign is to raise awareness about financial concepts and products that facilitate financial transactions. This includes providing guidance on how to use banking products effectively, which will help citizens, entrepreneurs, and investors engage with financial systems more confidently. The campaign's reach will span various sectors of society, from everyday citizens to business owners, empowering them with the knowledge to make better financial choices and contribute to the country's economic growth.
Through this initiative, the CBE and its partners aim to build a financially literate society, ensuring that Egyptians can access the tools and knowledge they need to manage their financial lives and contribute to the national economy.
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