December 16, 2018 |
Ayman Hussein, Deputy Governor of the Central Bank for Information Technology and Payment Systems, stated that the Central Bank has received applications from four banks for a license to establish a digital bank, declining to disclose the names of the banks.
On the sidelines of the First Arab Digital Economy Conference held in Abu Dhabi, under the patronage of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces, he explained that the Central Bank of Egypt is currently working on establishing the foundations and regulations for the launch and operation of digital banks. He noted that the goal is to keep pace with technological developments and reduce operating costs for the bank, benefiting customers.
On the other hand, Ayman Hussein confirmed that the Meeza card, the first national card with an Egyptian brand, will be activated and issued to citizens before the end of this month. He noted that banks have completed the banking transactions for ATMs to accept the Meeza card.
The Meeza card is one of the initiatives launched by the National Payments Council to promote financial inclusion by creating a national payment system that enables customers to conduct numerous transactions through an electronic collection tool.
The first Arab Digital Economy Conference kicked off today, Sunday, in Abu Dhabi under the patronage of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. The conference aims to launch a common Arab vision for the digital economy as a key factor encouraging increased economic cooperation and inter-Arab trade.
