{"id":324880,"date":"2022-03-15T15:38:52","date_gmt":"2022-03-15T15:38:52","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324880"},"modified":"2022-03-17T09:44:50","modified_gmt":"2022-03-17T09:44:50","slug":"financial-inclusion-rates-in-egypt-up-110-in-last-5-years-cbe-loqman","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/03\/15\/financial-inclusion-rates-in-egypt-up-110-in-last-5-years-cbe-loqman\/","title":{"rendered":"Financial inclusion rates in Egypt up 110% in last 5 years: CBE&#8217; Loqman"},"content":{"rendered":"<p>The financial inclusion rates in Egypt have increased by more than 110 percent over the past five years, rising from 27 percent in the end of 2016 to 56.2 percent by the end of 2021, according to Deputy governor of the Central Bank of Egypt (CBE) Sherif Loqman.<\/p>\n<p>Addressing a conference on the future of small- and medium-sized enterprises (SMEs) \u2014 which is organised by the Union of Arab Banks (UAB) in the Upper Egyptian city of Luxor \u2014 Loqman said that the CBE is seeking to offer equal financial services to all Egyptians.<\/p>\n<p>He added that the CBE is acting to promote banking culture among the different segments of society.<\/p>\n<p>The deputy governor said that expanding SME finances is meant to achieve the goals of financial inclusion.<\/p>\n<p>Moreover, he noted that SME finances have increased by 253 percent since 2015, and now exceed EGP 400 billion.<\/p>\n<p>The banking sector has also outlined plans to expand technical support services offered to SMEs, Loqman said, emphasising that this is the most important step in the coming period.<\/p>\n<p>Furthermore, he stressed that banks offer innovative solutions to help meet the needs of the SME sector.<\/p>\n<p>About 50 percent of the country\u2019s economic sectors are not involved in banking services, Loqman told the conference, adding that the CBE is currently working to include those sectors through non-financial services.<\/p>\n<p>The CBE deputy governor also discussed\u00a0early decisions to rehabilitate the infrastructure for digital transformation in terms of cash and bank transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial inclusion rates in Egypt have increased by more than 110 percent over the past five years, rising from 27 percent in the end of 2016 to 56.2 percent by the end of 2021, according to Deputy governor of the Central Bank of Egypt (CBE) Sherif Loqman.<\/p>\n","protected":false},"author":4,"featured_media":324881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[222],"class_list":["post-324880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-central-bank-of-egypt-cbe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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