CBE examines Swedish experiment to turn banking services into digital

CAIRO - 31 May 2018: The Central Bank of Egypt (CBE) on Thursday announced that it examines a Swedish experiment to turn banking services in Egypt into digital ones and go ahead with the use of financial technology to provide savings services for all community strata, especially the marginalized ones for attaining sustainable development.

In a statement, the CBE said that a delegation from the bank paid a two-day official visit to Sweden to exchange experience and get acquainted with the Swedish successful experiment in the digital economy.

The visit was organized in cooperation with Sweden's embassy in Cairo, Egypt's embassy in Stockholm and the Swedish Trade and Invest Council.

The high-profile delegation was led by CBE deputy governor Lobna Helal.

The CBE is determined to proceed with creating a suitable climate for expanding in the use of financial technology, in addition to making good use of other promising international experiments in this field, Helal said.

The visit comes within the framework of the CBE's plans to turn into the digital economy and expand in the financial technology services to bring about financial inclusion, the statement added.