Financial inclusion in Egypt in 2020 stood at 54 percent.
This statement by Khaled Bassiouny, director general of the Financial Inclusion Department at the Central Bank of Egypt (CBE) came in his address on the seventh day of the Nasser International Leadership Fellowship.
The last session of seventh day programme concluded with a discussion, ‘Economic Reforms & Financial Inclusion: The Role of the Central Bank of Egypt’, in which Bassiouny said that in 2010 only 10 percent of the population had a bank account and by 2017 that proportion reached 33 percent.
“This progress was achieved by looking at specific aspects of financial inclusion and carrying out studies of different segments of Egyptian society, allowing us to target each group and meet their needs for savings, loans, payments and insurance,” Bassiouny said.
“The work of the CBE targets women, youth, people with special needs and the elderly by following courses of action that embrace financial literacy, the provision of miscellaneous financial services, technology as a means of payment, and the establishment of small, medium and micro enterprises,” Bassiouny added.
Hassan Ghazali, Coordinator General of the Nasser Fellowship for International Leadership and ministry of youth and sports officials attended the session.
The theme of this year’s Nasser Fellowship for International Leadership Second Cohort is ‘South-South Cooperation’.
The Ministry of Youth and Sport with the National Training Academy, the Egyptian Ministry of Foreign Affairs under the auspices of President Abdel Fattah El Sisi organized the event.
Minister of Youth and Sport Ashraf Sobhi acts as chairman of the event, which is scheduled to wind up mid-June 2021.