Mastercard, CBE to host the 1st Cybersecurity Forum in Cairo

Cairo- 25 February 2019: Leveraging the power of public-private sector partnerships for the development of a resilient financial ecosystem in the country, Mastercard, a leading technology company in the global payments industry, has partnered with the Central Bank of Egypt to host the company’s first Cybersecurity Forum in Cairo on 25 February 2019.

The one-day Forum will bring together leading global and regional cybersecurity experts to draw attention to the latest developments in the digital threat landscape, highlight the role of public policy in curbing global cybersecurity threats, and deliver actionable insights that would help protect the financial ecosystem from new and emerging threats. More than 100 Egyptian bankers working in the IT, governance and compliance departments in local banks are expected to benefit from the event’s discussions.

Being a global leader with vast expertise in the safety and security of data and financial transactions, Mastercard offers unmatched knowhow in cybersecurity to the Egyptian market to help safeguard the interests of government, businesses and individuals.

“Egypt has set a clear path for digital transformation as part of its digital economy vision, which includes efforts to accelerate the transition to a cashless society and the development of smart cities where all citizens will have easy access to safe and security digital services,” said Ayman Hussein, CBE Deputy Governor for Payment Systems and Information Technology Sector. “The increase of digital financial transactions and the long-term economic growth plans in Egypt necessitate increasing awareness of cybercrime and keeping abreast of the continuous development of various cyber threats through technological innovation and adoption of smart solutions to help curb the potential negative impact of such threats on the banking infrastructure,” Ayman Hussein added.

“As a trusted partner to the Egyptian government, Mastercard is committed to playing a key role in the ongoing development of the country’s payments ecosystem. We believe that by working in partnership with the Central Bank of Egypt, we can help create greater cybersecurity awareness and advance innovative technologies that will strengthen the digital landscape in Egypt. By deploying Mastercard’s global expertise and best practices, and bringing our cybersecurity knowledge and payment innovations to the local market, we are committed to providing the highest level of safety and security to electronic payments,” said Alexander Niejelow, Senior Vice President of Cybersecurity Coordination & Advocacy at Mastercard.

“The Mastercard Cybersecurity Forum comes on the back of the ongoing discussions between Mastercard, the concerned ministries and the Central Bank of Egypt, which reiterate Mastercard’s commitment to supporting Egypt’s vision to shift to a cashless economy and the government’s plan to increase the percentage of electronic transactions to reach 10% within the coming three years,” added Magdy Hassan, Mastercard’s General Manager for Egypt and Pakistan.