NBE negotiate with non-bank financial institutions to launch a digital bank

Ahmed El Saeed, Chief Executive Officer Investments & Investment Trustees of the National Bank of Egypt, revealed that negotiations are currently held with more than one non-bank financial institution to study the contributing of launching a digital bank in accordance with the rules of licensing, registration and supervision of digital banks issued by the Central Bank of Egypt. 

This was revealed in special statements on the website "Al Arabiya Business", where he added that the aim of this partnership is to integrate the experiences involved both at the level of banking services provided by the Bank and those provided by non-banking financial institutions that address individuals other than bank customers.

He explained that if the final selection of participants is settled and the participation features are agreed, those institutions will apply to the Central Bank of Egypt for a license to operate digital banks.