{"id":557461,"date":"2021-09-20T04:00:56","date_gmt":"2021-09-20T04:00:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/"},"modified":"2021-09-20T04:00:56","modified_gmt":"2021-09-20T04:00:56","slug":"banque-misr-wants-to-launch-its-digital-bank-in-1q2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/","title":{"rendered":"Banque Misr wants to launch its digital bank in 1Q2022"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Banque Misr plans to launch Egypt\u2019s first digital bank <\/strong><strong>during 1Q2022<\/strong>, the bank\u2019s Vice Chairman Akef El Maghraby told <a href=\"https:\/\/bit.ly\/3CoGHqM\">Masrawy<\/a>.<\/p>\n<p><strong>The launch date will depend on when there\u2019s a framework in place:<\/strong> The Central Bank of Egypt is still working on a regulatory framework governing digital banks. We were originally expecting an announcement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54b4b2c7-3cd8-4bca-addf-8f1455de7309\">in July<\/a> but sources tell Masrawy that central bank officials hope to have the rules in place before the end of 2021.<\/p>\n<p><strong>Banque Misr isn\u2019t the only bank planning to go digital:<\/strong> National Bank of Egypt, Emirates NBD, QNB Al Ahli and Bank ABC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54b4b2c7-3cd8-4bca-addf-8f1455de7309\">have also applied<\/a> to the central bank for a digital banking license.<\/p>\n<p><strong>Visa is on board:<\/strong> <a href=\"https:\/\/mdi-egypt.com\/pages\/\">Misr Digital Innovation<\/a> (MDI), a subsidiary set up last year to launch the bank, has signed a seven-year partnership agreement with Visa, that will see it issue Visa-branded cards, use its APIs, and work with it on marketing and design, it announced in a <a href=\"https:\/\/ent.news\/2021\/9\/MDI-X-VISA-ENG-FINAL.pdf\">statement<\/a><sup><\/sup><a href=\"https:\/\/ent.news\/2021\/9\/MDI-X-VISA-ENG-FINAL.pdf\">(pdf)<\/a> yesterday. Visa will also provide licensing, implementation and technical support to MDI.<\/p>\n<p><strong>As is Atos:<\/strong> The French IT firm <a href=\"https:\/\/atos.net\/en\/2021\/egypt_2021_02_24\/banque-misr-selects-atos-to-build-egypts-first-digital-bank\">agreed in February<\/a> to build the digital platform that will be used by the bank\u2019s customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banque Misr plans to launch Egypt\u2019s first digital bank during 1Q2022, the bank\u2019s Vice Chairman Akef El Maghraby told Masrawy. The launch date will depend on when there\u2019s a framework in place: The Central Bank of Egypt is still working on a regulatory framework governing digital banks. We were originally expecting an announcement in July [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,576,72,76,183],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557461","post","type-post","status-publish","format-standard","hentry","category-banking","tag-banking","tag-banque-misr","tag-enterpriseam","tag-financial-regulatory-authority","tag-fintech","wpautop","entry"],"acf":{"mongo_id":"9adf670d-e5c4-4643-bd84-25d361e0c445","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[557453],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banque Misr wants to launch its digital bank in 1Q2022 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banque Misr wants to launch its digital bank in 1Q2022\" \/>\n<meta property=\"og:description\" content=\"Banque Misr plans to launch Egypt\u2019s first digital bank during 1Q2022, the bank\u2019s Vice Chairman Akef El Maghraby told Masrawy. The launch date will depend on when there\u2019s a framework in place: The Central Bank of Egypt is still working on a regulatory framework governing digital banks. We were originally expecting an announcement in July [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-20T04:00:56+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banque Misr wants to launch its digital bank in 1Q2022\",\"datePublished\":\"2021-09-20T04:00:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\"},\"wordCount\":208,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"Banque Misr\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Fintech\"],\"articleSection\":[\"Banking\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/20\/banque-misr-wants-to-launch-its-digital-bank-in-1q2022\/\",\"name\":\"Banque Misr wants to launch its digital bank in 1Q2022 - 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The move will play a \u201ccatalytic role in strengthening the long-standing trade relationship between\u2026","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591347,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/03\/five-banks-launch-electronic-payment-of-mortgage-installments\/","url_meta":{"origin":557461,"position":1},"title":"Five banks launch electronic payment of mortgage installments","author":"enterpriseam admin","date":"3 December 2019","format":false,"excerpt":"Five banks began on Sunday collecting mortgage payments electronically under the Central Bank of Egypt (CBE) and Mortgage Finance Fund\u2019s initiative, according to the local press. The National Bank of Egypt, Banque Misr, Banque du Caire, CIB, and the Housing and Development Bank now allow borrowers with subsidized home loans\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546847,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/bye-bye-18-certificates-of-deposit\/","url_meta":{"origin":557461,"position":2},"title":"Bye-bye, 18% certificates of deposit\u2026","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"NBE, Banque Misr suspend sales of 18% CDs: State-owned National Bank of Egypt (NBE) and Banque Misr will no longer be selling one-year, 18% certificates of deposit (CDs) introduced after the Central Bank of Egypt\u2019s devalued the EGP on 22 March, according to a statement (pdf) from Banque Misr and\u2026","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/410.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619574,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/07\/banque-misrs-mdi-receives-approval-for-digital-banking-license-from-cbe-cbe-issues-new-ownership-regulations\/","url_meta":{"origin":557461,"position":3},"title":"Banque Misr\u2019s MDI receives approval for digital banking license from CBE + CBE issues new ownership regulations","author":"enterpriseam admin","date":"7 May 2024","format":false,"excerpt":"Those acquiring more than a 10% stake in a bank would have to request approval from the CBE 60 days in advance","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/290.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576458,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/24\/housing-and-development-bank-plots-entry-into-digital-banking\/","url_meta":{"origin":557461,"position":4},"title":"Housing and Development Bank plots entry into digital banking","author":"enterpriseam admin","date":"24 November 2020","format":false,"excerpt":"State-owned Housing and Development Bank is planning to apply for a digital banking license from the Central Bank of Egypt (CBE), Chairman Hassan Ghanem told Masrawy. A growing number of Egyptian banks are planning entrances to the digital banking space, with the National Bank of Egypt, Banque Misr, Suez Canal\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571376,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/10\/banque-misr-to-arrange-loan-worth-up-to-egp-1-6-mn-to-damietta-furniture-city\/","url_meta":{"origin":557461,"position":5},"title":"Banque Misr to arrange loan worth up to EGP 1.6 mn to Damietta Furniture City","author":"enterpriseam admin","date":"10 May 2020","format":false,"excerpt":"Banque Misr will arrange a EGP 1.4-1.6 bn syndicated loan to Damietta Furniture City to help increase production and exports, Masrawy reports, citing unnamed banking sources. The National Bank of Egypt, the Egyptian Arab Land Bank, and the Export Development Bank are in talks to participate in the loan.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=557461"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557461\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557453"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557461"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557461"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}