The Central Bank of Egypt (CBE) has released the core set of financial inclusion indicators for 2023, showing a remarkable increase in the financial inclusion rates in Egypt. This means that the financial inclusion rate has risen to 70.7% in 2023, compared to 64.8% in 2022, and 25.8% in 2016. Egypt’s financial inclusion growth rate has been one of the best among peer countries in the past years. The financial inclusion rate of youth (aged 16 to 35), who make up 36.6 million citizens, reached 51.5%, with a growth rate of 48.5% from 2020 to 2023. Releasing the core set of financial inclusion indicators by the CBE is of great importance, as they help to track the progress of financial inclusion rates and enable the development of policies that support the economic empowerment of citizens.

Source: Daily News Egypt February 26, 2024 10:38 UTC