CBE: Egypt's Financial inclusion soars to 67.3% by June-2023 end

Sherif Luqman, deputy governor of the Central Bank of Egypt, revealed that the number of citizens with accounts enabling financial transactions reached 44.6 mn, equivalent to 67.3% of the total population aged 16 and above, estimated at around 66.5 million citizens.

He made this statement during his speech at Arab Conference on Savings and Financial Culture in the Middle East and North Africa, held from October 10 to 12, 2023, in Egypt.

Additionally, in terms of financial inclusion for women, the indicators showed a significant increase in the number of women owning financial accounts, reaching about 19.3 million women, with a growth rate of 227% over the past 7 financial years until the end of June 2023.

Luqman pointed out that Egypt's efforts in supporting and developing financial inclusion over the past 7 years resulted in a remarkable increase, reaching a financial inclusion rate of around 161% by the end of June 2023.