The fields of financial technology and digital payments in Egypt have achieved unprecedented breakthroughs in the history of Egypt, crowning the efforts of the Central Bank of Egypt with success in enhancing financial inclusion, financial technology, and infrastructure capable of absorbing new things in the fields of electronic payment.
In the same context, the activities of the 11th International Conference and Exhibition for Digital Payments, Financial Inclusion and Digital Banks (PAFIX) were launched today, under the auspices of the Central Bank of Egypt, and which will continue until November 20, 2024, within the Cairo ICT Exhibition, which was opened yesterday by Mr. Dr. Mostafa Madbouly, Prime Minister, in the presence of a number Senior ministers and officials.
In the opening speech of the PAFIX conference, which was delivered on behalf of Hassan Abdullah, Governor of the Central Bank of Egypt, Eng. Ayman Hussein, Senior Deputy Governor for the Information Technology Sector, in which he stressed that “the efforts of the Central Bank of Egypt in preparing the digital financial infrastructure and the legislative and supervisory frameworks contributed to Achieving an unprecedented breakthrough in the fields of financial technology and digital payments, which was reflected in increasing rates of financial inclusion in society, in line with the Egyptian state’s strategy to transform into a society less dependent on banknotes.”
This came with the participation of a number of leaders of the Central Bank and the banking sector, entities and institutions specialized in the field of financial technology and digital payments, and a group of international and local experts interested in financial inclusion and developments in electronic payment systems.
During the official opening of the exhibition activities yesterday, the Central Bank of Egypt conducted a live experiment to complete a purchase transaction using the card coding platform on mobile phone applications, in the presence of the Prime Minister, in preparation for launching the system soon, which will allow activating the services of many international companies, as well as banking applications. And financial technology companies, which provides tremendous opportunities to provide innovative solutions that meet customer needs.
The Central Bank of Egypt also presented, within the activities of its pavilion, a short documentary film highlighting its most important efforts in the field of digital banking services and financial inclusion for individuals and micro, small and medium enterprises, as well as the efforts of the banking sector to facilitate the access of various groups, especially youth, women and people of determination, to all banking services and products that meet… Their needs.
As part of its keenness to hold interactive discussions about the future of digital transformation and the most prominent developments in the field of financial technology, the Central Bank designed its pavilion at the exhibition this year in a different way to contain a platform for “FinTech Fireside Chat” to provide the opportunity to exchange opinions and viewpoints with wide participation from representatives of banks and technology companies. Finance and entrepreneurs. A special space was allocated in the Central Bank’s pavilion for the “InstaPay” application, with the aim of educating customers about the most prominent services provided by the application.
