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Financial Supervision and Central Bank discuss enhancing financial inclusion and supporting microfinance

Books of Dr. Nasser Hussein

In a step that reflects the integration of fiscal, monetary and regulatory policies in the State, the General Financial Oversight Authority convened a coordination meeting with the Central Bank of Egypt to discuss the identities and ways of cooperating to increase levels Financial Inclusion Expansion of the beneficiary base as well as plans and programmes to raise awareness and financial culture, support for microenterprises and the economic empowerment of women.

The meeting saw discussion on how citizens could benefit from financial services in their banking and non-banking segments, and discussions focused on supporting microenterprises through financing instruments that ensure sustainability of these projects as a fundamental pillar of economic growth.

The meeting addressed the financial inclusion file with a view to integrating non-listed groups into the formal financial system to ensure the efficient access and services of their beneficiaries.

Hassan Abdullah Governor of the Central Bank of Egypt

The Women ' s Empowerment and Business Leaders case received a large share of discussions, with a view to facilitating women ' s access to funding sources and providing technical support for the launching and expansion of their projects.

Awareness-raising and financial education were also discussed through enhanced efforts to raise awareness of financial rights and foster a culture of savings and safe investment.

The representatives of the financial control and the Central Bank stressed that such coordination was aimed at increasing financial coverage rates, broadening the beneficiary base and promoting levels of awareness and financial culture, through the exchange of data, protecting the rights of clients, reducing financial risks and contributing to Egypt ' s vision of a digital and inclusive economy.

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