Egypt’s Tarek Amer assumes Alliance for Financial Inclusion chair Tuesday

Egypt’s central bank governor Tarek Amer will take over the 90-state member Alliance for Financial Inclusion (AFI) presidency at the AFI Global Policy Forum in Rwanda on Tuesday.

Central bank deputy governor Lobna Helal will assume the role of vice chair of the AFI Gender and Women’s Financial Inclusion Committee (GWFIC).

Last year, Amer was elected vice-chair of the AFI Board of Directors.

The Egyptian central bank has been an effective member of the AFI since 2013.

Egypt has been implementing several steps to entrench financial inclusion across the country, with the aim to include as many citizens as possible in the financial system.

In 2018, the central bank established a database of financial inclusion and is currently working on a field study to determine financial services being used by various financial institutions.

The services are offered at suitable prices in line with Egypt’s 2030 development strategy, a recent central bank report said.

The 2019 AFI forum will take stock of the progress made and set out steps ahead to reach the goal of halving the financial inclusion gender gap. It will also share and discuss how AFI members are developing and implementing youth-specific financial inclusion policies. In addition, it will and highlight how the use of technology will bring progress in financial inclusion of the most vulnerable groups, especially women and youth.

Founded in 2008, the Alliance for Financial Inclusion is a global network of financial inclusion policymakers. AFI is member-based and member-owned. Its members are central banks and other financial regulatory institutions from emerging and developing economies.