The Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, highlighted the significant challenges facing the banking sector amid ongoing regional pressures, affirming the bank's dedication to supporting financial institutions in expanding to new markets and attracting investments in both local and foreign currencies.
His remarks, delivered on his behalf by Deputy Governor Tarek El Khouly at the opening of the 18th "People and Banks" Conference, reinforced the central bank's commitment to sustainable growth.
Abdalla emphasized the essential role of the banking sector in advancing Egypt's sustainable development, underscoring the importance of financing green projects and the green economy.
He referenced the increasing support from international organizations like the World Bank and IMF for green-focused investment funds, which are expected to drive sustainable development, job creation, and long-term financial stability in Egypt.
In addition, Abdalla noted the Central Bank’s commitment to aligning with global trends in sustainable finance by joining international green finance bodies.
The goal is to adopt international best practices in sustainable banking, with a particular focus on sectors like health and education.
He also stressed the need for robust cybersecurity measures to protect financial institutions from growing cyber threats, calling for collaboration across Egypt’s public and private banking sectors to further the country’s sustainability goals.
