Egypt’s c. bank launches financial literacy initiative

The Central Bank of Egypt (CBE) has created financial literacy content to simplify financial concepts and promote awareness of various financial products and services, including those related to financial inclusion.

This initiative is a financial literacy campaign by the CBE in cooperation with the EU, GIZ Egypt, the German government, and the Egyptian Banking Institute (EBI) to build trust in the banking sector and empower citizens to make informed financial choices.

“This comes in alignment with the government and the CBE’s efforts in promoting financial inclusion to all segments of society, especially women, youth, people with disabilities, elderly, farmers, and entrepreneurs,” the CBE reported.

The CBE stresses that financial literacy is a crucial component of its Financial Inclusion Strategy, which is instrumental in promoting Egypt’s inclusive and sustainable economic development.

The campaign is part of the technical assistance project Strengthening Financial Inclusion and Banking Supervision in Egypt, initiated in November 2018 and carried out by GIZ in partnership with the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ).

The campaign features content designed to showcase key themes and ideas related to financial inclusion, entrepreneurship, financial consumer protection, inflation, and payment systems and services.

The campaign’s main goal is to increase understanding of financial concepts and products that can assist citizens, entrepreneurs, investors, and all other members of society in conducting financial transactions.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama