The CBE explained in a statement that this comes in line with the studies carried out by Central Bank sectors, and the banks’ participation in this fund comes out of their belief in the importance of keeping pace with global developments in the field of financial technology.
The establishment of the fund aims to create an appropriate environment to provide innovative applications in this field, which will help raise the rates of financial inclusion and achieve the goals of the Egyptian state through targeted digital transformation as part of Egypt’s Vision 2030.
The fund will direct investments to emerging financial technology companies, whether these companies are local or international, intending to launch their business in the Egyptian market.
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