More than 56% of Egyptian adults, around 37 million adults, were banked at the end of 2021, climbing from approximately 53% recorded in 2020, explained the CBE
CIB stated that its board of directors had already obtained the approval of the Central Bank of Egypt for this decision in a statement.
The finance ministry will be running an audit on the initiatives to plan a strategy on how to move forward without the CBE’s support, as well as assigning the body that will finance each initiative
In mid-October, Bloomberg also reported that the QIA had entered advanced talks to invest $2.5 billion in a number of local companies, including Vodafone Egypt
Abdalla stated that the IMF deal will undoubtedly help Egypt restore macroeconomic stability and enhance its ability to absorb external shocks