CAIRO – Egyptian President Abdel Fattah ElSisidiscussed means of making the best use of the assets of state-owned banks, during a meeting Monday with a host of banking officials, including Central Bank Governor Tarek Amer and the chairmen of the National Bank of Egypt and Banque Misr.
The president gave instructions for removing hindrances on the road of exploiting the assets of the state-owned banks and making proper studies for the promotion of these assets, Presidency Spokesman, Ambassador Bassam Radi, said.
He added that the president noted that action in this regard should open the door for the best exploitation of these assets so that they can add value to the state-owned banks.
President Sisi also reviewed efforts made by the Central Bank to boost cyber security across the national financial system.
Enhancing this security, the president said, is a major challenge on the road to reducing dependence on cash.
President Sisi ordered support for cyber security applications in the national financial system by providing it with a secure infrastructure and trained labour, Ambassador Radi said.
Governor Amer briefed the president, meanwhile, about banking sector indicators and the new services offered by the nation’s banks to their clients.
The Central Bank governor highlighted the stable performance of the banking sector in the face of the Covid-19 pandemic.
He said this stable performance is induced by the presence of high liquidity inside the banks.
The president’s meeting with the banking officials also tackled the development initiatives launched by the presidency in the past period and the role the banks play in backing them, Ambassador Radi said.
He added that the president and the banking officials especially focused on initiatives for supporting youths, middle class citizens and those with limited income.
President Sisi expressed appreciation for the support the banking sector offers the Egyptian state and development projects in the past years, Ambassador Radi said.
He added that the president noted that this support had helped Egypt get over the different challenges it faced in those years.