Onebank is scheduled to launch its services in 2026 after receiving final approval from the CBE. This move marks a significant step in the country’s journey towards a digital economy.
The Central Bank of Egypt (CBE) has officially approved Banque Misr’s Misr Digital Innovation (MDI) to evolve into onebank, Egypt’s first fully digital-native bank, according to MDI’s statement.
The onebank is scheduled to launch its services in 2026 after receiving final approval from the CBE. This move marks a significant step in the country’s journey towards a digital economy.
MDI had initially received preliminary approval in May 2024 to establish onebank, with plans to launch it in the fourth quarter of 2024, following the completion of due diligence and obtaining an operating license.
As of May 2024, MDI had invested EGP 2.5 billion in onebank and aimed to increase the bank’s capital to EGP 5.5 billion by mid-2025.
The statement highlights that this transition is a pivotal moment in Egypt's banking sector, positioning onebank as a pioneer and a vital contributor to the country's digital economy.
