CBE: Licenses of digital banks to be rolled out in weeks

CAIRO – Deputy governor of Central Bank of Egypt (CBE) Rami Abul Naga said that licenses of the digital banks are planned to be rolled out in the Egyptian market in the coming weeks.

Five banks, including Banque Misr, have applied to have the licenses, Abul Naga said.

The volume of the online transactions in the Egyptian market has increased to more than EGP 6.4 trillion in 2022, up from EGP 4.2 trillion in 2020, he added.