Egypt’s Central Bank Official Highlights Financial Inclusion and Innovation as Pillars of Sustainable Arab Development
Dr. Sherif Lokman, Deputy Governor of the Central Bank of Egypt for Financial Inclusion and Sustainability, affirmed that supporting innovation ecosystems, investment, and financial inclusion represents a fundamental pillar for achieving sustainable economic development across Arab countries.
Speaking during the 14th Arab Innovation and Investment Forum, Lokman emphasized that small and medium-sized enterprises (SMEs) and entrepreneurship have become the backbone of modern economies, particularly amid accelerating economic and technological transformations.
Lokman welcomed participants from across the Arab world to Egypt, describing it as their “second home,” and expressed his hope for a successful and productive year for all attendees. He stressed that the forum reflects a collective Arab commitment to strengthening innovation, investment, and sustainable development pathways throughout the region.
He extended his appreciation to the League of Arab States and Shabab Qaderoon for Development Foundation for organizing the forum and for their continuous efforts in empowering Arab youth, supporting entrepreneurship, and linking innovative ideas with investment opportunities.
Addressing the forum’s theme, “Towards an Integrated and Stable Investment Ecosystem for Promising Opportunities,” Lokman noted the urgent need to build inclusive economic systems that stimulate innovation and support SMEs, which play a vital role in job creation, economic growth, and social stability—especially among young people.
He highlighted financial inclusion as a key enabler in transforming entrepreneurial ideas into sustainable businesses, stressing that the Central Bank of Egypt places financial inclusion and sustainable finance at the core of its strategic priorities.
Over recent years, the Central Bank has implemented comprehensive initiatives to support micro, small, and medium enterprises, facilitate access to finance, promote digital transformation, expand electronic financial services, encourage fintech innovation, and enhance the economic empowerment of youth and women.
Lokman revealed that Egypt’s financial inclusion rate has reached 77.4%, representing approximately 55 million citizens, while youth financial inclusion stood at 55.2% (22 million young people), and women’s inclusion rose to 71.3%, covering 24.5 million women.
On the financing front, he noted that banks’ SME loan portfolios exceeded EGP 600 billion, recording growth of nearly 400% compared to 2016, while microfinance portfolios surpassed EGP 100 billion, serving more than 4 million beneficiaries.
He concluded by expressing hope that the forum would produce actionable recommendations and practical initiatives to enhance innovation, stimulate investment, and expand financial inclusion across Arab countries.