Central Bank of Egypt Launches Banking Reform & Development Fund
The fund’s Board of Directors will serve a four-year term, bringing together experts from banking, technology and financial governance.
The Central Bank of Egypt (CBE) has launched the Banking Reform and Development Fund, an independent body aimed at supporting the modernisation and competitiveness of Egypt’s banking sector. Chaired by Governor Hassan Abdalla, the fund’s Board of Directors will serve a four-year term, bringing together experts from banking, technology, and financial governance. During its first meeting, the board outlined a strategic roadmap, approved its governance structure, and established development priorities for the sector. The fund’s objectives include enhancing national payment systems, expanding digital and financial technology infrastructure, strengthening cybersecurity, and investing in professional capacity building across banks. It will also have the authority to create or invest in ventures, sign cooperation agreements, and support initiatives that foster sustainable sector growth. Established under Law No. 194 of 2020, the fund operates with full legal and financial independence and includes all licensed banks in Egypt among its members. According to the Central Bank, the fund reflects Egypt’s ongoing efforts to align with global best practices in banking regulation, innovation, and digital transformation, while promoting financial inclusion and institutional resilience.
