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Expanded Cooperation to Broaden Beneficiary Base

Mohamed Tharwat, Chairman of the Financial Inclusion Committee at the Federation of Egyptian Banks (FEB) and Head of Retail Banking and Financial Inclusion at Banque Du Caire, emphasized that the committee is stepping up efforts to strengthen partnerships with entities capable of supporting financial inclusion and sharing expertise to expand the beneficiary base for banking services. He noted that the idea of bringing together representatives from various sectors to showcase their practical experiences and solutions was proposed a year ago to develop the ecosystem.

Broad Meeting at NBE Headquarters to Enhance Services

This came during the committee's meeting held at the National Bank of Egypt (NBE) premises, attended by representatives from the Central Bank of Egypt (CBE), the FEB, and a group of companies and platforms specialized in financial empowerment. The meeting addressed ways to make financial services accessible to larger segments and improve access mechanisms.

Building Bridges with Emerging FinTech Startups

Tharwat revealed the committee's intention to establish direct communication channels in the coming period with emerging financial technology (FinTech) startups operating in the Egyptian market. This will allow startups to present their solutions and services directly to banking institutions, enabling each bank to choose what aligns with its vision and expansion goals.

Credit History Awareness: Youth's Gateway to the Banking Sector

The Committee Chairman stressed the necessity of launching targeted awareness campaigns for young people, focusing on the importance of building and maintaining a good credit history as a crucial foundation for facilitating access to credit facilities and effectively integrating them into the formal banking system.

Innovative Solutions to Integrate the Unbanked

Tharwat concluded by highlighting that exchanging expertise and fostering partnerships between the banking sector, FinTech companies, and economic empowerment platforms represent the most vital pathway for innovation to reach unbanked segments of society.