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- The Central Bank of Egypt (CBE) has issued the main indicators of financial inclusion. The indicators include advances the country has made in financial services and products for all segments of society, which help the society to sustainable growth and economic stability
The Central Bank of Egypt (CBE) has issued the main indicators of financial inclusion. The indicators include advances the country has made in financial services and products for all segments of society, which help the society to sustainable growth and economic stability.
The indicators showed a significant increase in the rates of financial inclusion during the past six years, registering a growth rate of 115 percent. The total number of citizens owning bank accounts, accounts in Egypt Post, mobile phone wallets or prepaid cards or any other access to institutional saving touched 36.8 million. It is equivalent to 56.2 percent of the total citizens aged 16 and above. The total number of citizens in this age profile was 65.4 million as of 2021.
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In terms of women’s financial inclusion, there was a jump in the number of women who own financial accounts, reaching 16 million at the end of 2021. This was a growth rate of 171 percent compared to 2016.
The number of prepaid cards jumped to 39,883 per 100,000 citizens. The number of phone wallets reached 38,505 wallets per 100,000 citizens.
The number of financial access points – which includes bank branches, Egypt Post, microfinance institutions, in addition to automated teller machines, electronic points of sale and payment service providers reached 1037 points per 100,000 citizens.
