The CBE is embracing fintech: The Central Bank of Egypt is planning to set up an EGP 1 bn fund to back fintech startups, CBE sub-governor for payment systems and business technology Ayman Hussein said earlier this week. The fund is part of the CBE’s strategy to promote fintech, which will also see a fintech unit and a digital research lab established in the central bank. The strategy aims to position Egypt as a regional hub for fintech. Wamda also has the story.

Tags: