[ad_1]
The Egypt Central Bank (CBE), b & # 39; cooperation with the European Union and the German Embassy in Cairo, launched the "Financial Coverage Enhancement, Supervision and Oversight & # 39; Banks in -Eġittu "b & # 39; & # 39 funding; 3.2 million in & # 39; & # 39 form, three years & # 39; technical assistance to support efforts & # 39; and strengthen financial inclusion.
During the conference today to announce the program, the Central Bank & # 39; Egypt emphasized that put the financial cover at the top of priorities and its policies, and works to coordinate among -parts concerned at national level to create conditions that allow Egyptians – especially those who do not receive appropriate financial services – from savings and achieve their financial aspirations, in addition to enabling micro, small and medium to access to finance, investment, growth and create more jobs..
More than 100 participants from NGOs, a & # 39; business, embassy and & # 39; international development attended the program.
The Sourcoush Ambassador, Head of the EU Delegation in Egypt, expressed his appreciation for the efforts made by the Central Bank in the process of achieving reform ekonomika.Hu stressed the specificity of the EU contribution ..
Mr. Gamal Najm, Deputy Governor of Egypt Central Bank, and Mr Lubna Hilal in their opening on the latest developments in the field of supervision and supervision of banks and financial coverage . "The Egypt Central Bank is working continuously to further enhance the technical capacity of Supervision of banks as well as bank governance in & # 39; compliance with international standards and best practices."
Ms Lubna Hilal explained the efforts of Egypt Central Bank to develop science-based policies by measuring the levels of financial coverage, trends and challenges of the Republic. "We have been collecting a large amount of & # 39; basic data to prepare the first report on More on how to proceed with & # 39; this important work at local level"He said.
For its part, the German Ambassador Julius Georg Lui said that Germany was & # 39; support for long & # 39; procedures & # 39; financial inclusion in Egypt and is pleased to see a big improvement for households and companies to obtain financial services, while the agency & # 39; implementation "German Agency for International Cooperation" The project said that the Central Bank of Egypt made reference to policies & # 39; intelligent financial coverage in the Arab world and beyond.
At the local level, financial inclusion has become a priority because the Egyptian government has launched the Strategy for Sustainable Development: Vision 2030, which focused on improving the financial coverage and implementation of & # 39; number & # 39; own initiatives in & # 39; close coordination with stakeholders. To institutionalize this process, the Egypt Central Bank (CBE) introduced the Central Administration of the Financial Inclusion in & # 39; November 2016 to manage and monitor the process of financial inclusion and enhance coordination and.
The & # 39; reform policies aimed at promoting financial inclusion and financial inclusion in general with women & # 39; in particular were formulated. These efforts have led to notable improvements in financial inclusion indicators over the past two years as shown in the FINEX Index "Global FINDEX" Issued by the World Bank in 2017, which showed an increase in the proportion of & # 39; adult b & # 39; bank account in Egypt to reach 33% in 2017, after having been 14% in 2014 and 10 % in 2011.
The program will support the efforts of the Central Bank of Egypt to establish a comprehensive database at national level to measure the levels of & # 39; financial coverage of & # 39; study on both the supply as well as demand, covering both the household sector and MSMEs. The survey will be carried out in 2019 & # 39; close coordination with the concerned authorities.
At the level of supervision and sector & # 39; supervision of Central Bank of Egypt, the sector showed & # 39 programs; reform in & # 39; the last decade. In addition, the system & # 39; banking supervision has been developed and implemented decisions Bank & # 39; Basel II II AndIII. According to the schedule issued by the Committee of & # 39; Basel on Banking Supervision. This project will address the implementation of the final amendments to the Framework & # 39; Basel IIIKnown as the & # 39; Basel II Framework), Process & # 39; Banking Supervisory evaluation and governance, to contribute to improving the financial stability and improve the transparency and disclosure in the banking sector In addition, it will implement a comprehensive economic framework b & # 39; range & # 39; monetary and financial policies, as well as a framework for financial reporting and banking. Therefore, the general framework of prudent risk helps the Central Bank Egypt to the Egyptian financial system more robust and stable.
The conference focused on policies & # 39; current and future reform of the Central Bank of Egypt. The rate of supervising concerned departments representatives, supervision and financial coverage presented the latest developments and features of the programs & # 39; relevant reform, and stressed the importance of cooperation with the European Union and share best practices with & # 39; Other countries in the region..
The program is part of the "Strengthening program Access & # 39; Small and & # 39; Medium Financial Services" in Egypt, funded by the German Federal Ministry for Economic Cooperation and Development to improve -Access to these financial banking and non-banking financial services such as financial intermediation, Financing & # 39; equity and insurance for small and medium & # 39; sized.
Source link
