CBE sub-governors say financial inclusion prioritized, reserves to continue growing in AMAY interviews: Al Masry Al Youm ran a couple of interviews with central bank sub-governors May Abulnaga and Rami Abulnaga to discuss the future of the banking system and financial markets. May says the central bank is currently prioritizing the promotion of financial inclusion and pushing the system away from cash transactions. The CBE is supporting expansion in that direction by pushing banks to launch mini branches, promoting mobile payments, and supporting internet banking. She also said that, overall, the banking system remains healthy and well capitalized, exceeding the targets set for 2017 so far. Rami says there will be no restrictions on the FX market, and expects central bank reserves to continue growing. He says the banking system has managed to attract USD 43 bn since the EGP float in November. Rami added that the central bank aims to bring the inflation rate by 4Q2018 down to 13%, plus or minus 3 ppt.

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