Egypt’s central bank signs deal for economic empowerment for women

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Egypt’s central bank has signed on Wednesday a deal with the National Council for Women that calls for the economic empowerment for women in the country.

Signed on the sidelines of the Alliance for Financial Inclusion’s global event in Sharm El-Sheikh, the memorandum of understanding aims to improve Egyptian women’s financial inclusion in the banking sector.

The Central Bank of Egypt aims to maximise the impact of financial inclusion by working with the necessary parties on the ground, said deputy governor Lobna Helal.

The memo will help increase financial inclusion of Egyptian women to 18 percent, from 9 percent currently, said Maya Morsy, chairperson of the National Council for Women.

Co-hosted by the Central Bank of Egypt, the Alliance for Financial Inclusion (AFI) organises its 9th Global Policy Forum (GPF) in Sharm El Sheikh, from 13-15 September, to be the showcase of the unique financial inclusion initiatives undertaken by members in the Arab region.