{"id":670322,"date":"2025-08-18T00:00:00","date_gmt":"2025-08-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/18\/the-countrys-first-digital-bank-to-launch-services-next-year\/"},"modified":"2025-08-18T00:00:00","modified_gmt":"2025-08-18T00:00:00","slug":"the-countrys-first-digital-bank-to-launch-services-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/18\/the-countrys-first-digital-bank-to-launch-services-next-year\/","title":{"rendered":"The country\u2019s first digital bank to launch services next year"},"content":{"rendered":"

Egypt\u2019s first<\/strong> digital bank to see the light soon:<\/strong> Banque Misr\u2019s Misr Digital Innovation (MDI) has received approval from the Central Bank of Egypt to transform into onebank, the country's first fully digital-native bank, according to a statement (pdf)<\/a>. The move is expected to accelerate our transition toward a digital economy.<\/p>\n

The timeline:<\/strong> onebank is set to launch its services to the public in 2026 after receiving the final green light from the CBE, according to the statement. <\/p>\n

REMEMBER- <\/strong>MDI received preliminary approval from the CBE to launch onebank in May 2024<\/a>. At the time MDI had planned to launch the bank in 4Q 2024 after finalizing the second phase of due diligence and acquiring the operating license. MDI had invested EGP 2.5 bn<\/a> in onebank as of May of last year and had plans to beef up the bank\u2019s paid-up capital to EGP 5.5 bn by mid-2025. <\/p>\n

A turning point:<\/strong> \u201cThis pivotal transition marks a turning point in the evolution of Egypt\u2019s banking sector, cementing onebank\u2019s position as a pioneer in the field and a key pillar in building the country\u2019s digital economy,\u201d according to the statement.<\/p>\n

Leading our first digital bank: <\/strong>Sherif El Behery (LinkedIn<\/a>) will stay on as CEO. El Behery is a global financial services expert with over 25 years of experience at major banks like Citibank and Barclays. The bank\u2019s board of directors will be led by Khaled El Attar (LinkedIn<\/a>), who has been tapped as non-executive chairman. El Attar brings over 35 years of experience to the role, having previously held senior roles at IBM, Raya Holding, and served as Vice Minister for Digital Transformation at the CIT Ministry. <\/p>\n

The board, too, includes a number of distinguished leaders and experts across various <\/strong>fields:<\/strong><\/p>\n