President Abdel Fattah El-Sisi on Monday reviewed the performance of the national economy and the country’s economic reform agenda for the coming period, and stressed the need to maintain adequate foreign exchange reserves and boost the stability of the financial system.
During a meeting attended by Prime Minister Mostafa Madbouly and Central Bank of Egypt (CBE) Governor Hassan Abdalla, discussions focused on efforts to sustain the decline in inflation and increase foreign currency inflows, Presidency Spokesman Ambassador Mohamed El-Shennawy said.
Abdalla reaffirmed the CBE’s commitment to maintaining financial stability and strengthening the resilience of the banking sector through a transparent approach focused on curbing inflation, while adhering to a flexible exchange rate system determined by market forces.
The CBE governor also announced that the bank’s board of directors had approved regulations governing digital financial identity services, as part of ongoing efforts to support digital transformation and promote financial inclusion.
He highlighted positive indicators in the national economy despite unprecedented regional and international challenges, noting that Egypt’s foreign exchange reserves had reached a record high of $57.5 billion at the end of October 2026. Net foreign assets held by the banking sector had also climbed to their highest level since 2011.
El-Sisi stressed the need to maintain adequate foreign exchange reserves to ensure the country’s ability to meet its strategic needs for essential commodities, calling for continued co-ordination between the government and the central bank, El-Shennawy added.
The president also called for striking a balance between keeping pace with technological innovation and investing in human capital to support the future development of the banking sector.
He further directed that robust risk management frameworks be established, good governance strengthened and cybersecurity systems reinforced to mitigate risks that could threaten the stability of the financial system and adversely affect markets.
