CAIRO: Prime Minister Mostafa Madbouly visited the pavilions of the Central Bank of Egypt (CBE), the Financial Regulatory Authority (FRA), and the Egyptian Credit Bureau “iScore”, during his tour of the Cairo ICT’24” Middle East and Africa Technology Exhibition and Conference under the slogan “The Next Wave”.

According to State Information Service Egypt, during the Prime Minister’s presence at the Central Bank’s pavilion, Ayman Hussein, First Deputy Governor of the Central Bank, explained the details of conducting a live experiment to complete a purchase process using the card coding platform on mobile phone applications for the first time. A brief video was also shown on the Central Bank’s efforts in digital transformation in digital financial services and financial technology.

The Prime Minister also headed to visit the pavilion of the FRA, where Madbouly listened to an explanation from Mohamed Farid, Chairman of the Authority, about the efforts made to develop the first clear and integrated regulatory an
d legislative framework. This framework aims to accelerate the pace of digitizing non-banking financial transactions in support of the efforts of the Egyptian government and Egypt’s Vision 2030. The goal is to build a knowledge-based digital economy to facilitate and accelerate citizens’ access to non-banking financial services.

The Prime Minister also inspected the pavilion of the Egyptian Credit Bureau (iScore), where a brief presentation was given on the implementation of the plan to expand credit information applications using data and artificial intelligence. This initiative supports the state and the Central Bank of Egypt’s orientations towards digital transformation and enhancing financial inclusion.