CBE ramps up digitization plans: The Central Bank of Egypt (CBE) is mulling introducing a new mechanism that would allow citizens to open smart wallets online, allowing them to make deposits and borrow via mobile phones as part of the CBE’s digitization drive, CBE Sub-Governor Lobna Helal said, according to Al Mal. This comes just a few days after the Financial Regulatory Authority had signed off on new regulations allowing microlenders to begin offering nano lending services through mobile phones. The CBE is also looking into setting up a fintech center in Egypt that would act as a regional hub for the Arab world and the rest of Africa, Helal said.

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