The Banking Executive Magazine - May Issue

The Central Bank of Egypt The Central Bank of Egypt LAUNCHES INITIATIVES TO ENCOURAGE FINANCING SUSTAINABLE PROJECTS The Central Bank of Egypt (CBE) has launched several initiatives to en- courage Arab banks to finance sus- tainable projects. This came during the Arab Financial Inclusion Day under the Auspices of the Arab Monetary Funds, which aims to expand financial services in Arab countries and support compre- hensive and sustainable economic development. The bank’s initiatives include, allow- ing banks to operate outside their branches across the governorates, es- pecially in remote areas, interacting with citizens by opening accounts without fees or minimum limits, en- couraging e-wallets’ customers to use their wallets, and providing financial literacy activities. Furthermore, the CBE issued instruc- tions to protect the rights of cus- tomers as well as rules and systems for digital services, such as using mo- bile phones and digital payment tools, with the aim of contributing to expanding the availability and use of financial services and achieving the sustainable development goals (SDGs) ISSUE 173 MAY 2023 the BANKING EXECUTIVE 25