Egypt has big opportunity to make progress in financial inclusiveness field: IMF

International Monetary Fund (IMF) regional director Gehad Azour said choosing Egypt as a venue for launching the financial inclusiveness report on small and medium-scale projects came as a result of being one of the biggest rising economies in the region.

Addressing a seminar held by the American University in Cairo (AUC) on Tuesday on the occasion of launching a report on “Financial Inclusiveness For Small- and Medium-Scale Projects, Azour said one of the best solutions for increasing financial inclusiveness for small- and medium-scale projects and individuals is the financial technology.

Arab region countries could benefit from a more organized and bigger financial technology in view of the large number of youths and immigrants in the region, he added.

Azour also said small and medium-sized projects could absorb half of the workforce of the region, noting that such projects in Egypt include 75 percent of the total workforce, 50 percent of whom are dealing with banks.

Source: Ahram Online