According to Negm, financial inclusion means providing all financial services to different segments of society, and its institutions and individuals, especially the poor and the marginalised segments. He pointed out that financial inclusion enhances competitiveness among financial institutions and leads to diversification of financial services provided to customers, in addition to its role in incorporating the informal sectors into the official economy. A committee will also be formed to collect and analyse data and information on financial inclusion, and establishing an independent department for financial inclusion in the CBE. It also joined the international alliance for financial inclusion and one of the working groups of this alliance in order to benefit from the technical expertise of its members. He noted that the CBE is preparing a report on the status of financial inclusion in Egypt to determine the objectives and policies to be adopted to support the financial inclusion.

Source: Daily News Egypt May 13, 2017 14:15 UTC