The Central Bank of Egypt (CBE) has received two awards granted by the Alliance for Financial Inclusion, which comprises 101 members of financial institutions, central banks and supervision authorities in 89 countries.

The granted awards reflected an appreciation of CBE efforts to enhance financial inclusion, economic empowerment of citizens and companies as well as facilitating all banking and financial services to all categories of the people.

In a statement released on Tuesday, CBE said the awards declaration ceremony was part of the activities of the 12th international financial inclusion conference “2022 AFI Global Policy Forum (GPF)”, held this month on the Dead Sea’s shores, Jordan, after a two-year hiatus due to the COVID-19 pandemic.

CBE received the award of (AFI) “Nestor Espenilla, Jr. Financial Inclusion Innovation Award” which is meant to honor Mr. Espenilla’s contributions to improving access to financial services in the Philippines and globally. The CBE is the first recipient of the global award which has been named after the late former Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr.

The award was established with funding support from venture capital firm Flourish Ventures, “recognizes institutions that demonstrate outstanding commitment toward innovation and the use of technology to further financial inclusion.

Meanwhile, CBE was granted another award titled “Maya Commitments Award” which is given to AFI members to appreciate efforts and activities made in the sustainable financial inclusion and poverty combat.

The central bank of Egypt also was among the three final nominees for winning the award of “Child and Youth Financial International, which is a newly announced award granted by AFI in the field of youth financial inclusion across the world.

CBE joined AFI in June 2013 and is a founding member of the network’s Gender and Women’s Financial Inclusion Committee, which was recognized with the Advocacy Champion Award at the 2018 AFI GPF in Sochi, Russia. As an active member of the network, CBE co-hosted the 2017 AFI GPF in the coastal town of Sharm El-Sheikh, the first time this flagship event to be convened in the Arab region. The GPF was attended by more than 700 delegates from over 90 countries and highlighted innovative financial inclusion policies and activities from around the world.

Source: State Information Service Egypt