Financial Technology in Egypt Between Opportunities and Challenges

Fady Tawakol, Zayed University

Document Type

Article

Source of Publication

Russian Law Journal

Publication Date

1-1-2023

Abstract

In Egypt, the Central Bank of Egypt is working to launch a new phase of financial technology, as one of the pillars of promotion of economic reform, and an effective and supportive mechanism for integrating the informal economy for individuals and institutions within the structure of the official economy of the state, and a way to Reality to raise and improve the standard of living and reduce poverty rates by containing certain segments of society from the marginalized, low-income and owners of small, medium and micro enterprises. The methodologies used explain the current state of financial inclusion and financial technology in Egypt, as well as the development of a law regulating and developing the use of financial technologies in non-banking financial activities in order to develop a mechanism for integrating the informal economy. The findings showed that enhancing the efficiency of the financial system and the effectiveness of monetary policy, are reflected in terms of financial stability which is considered one of the pillars of growth and transformation of the digital economy.

ISSN

2312-3605

Volume

11

Issue

3

First Page

1664

Last Page

1692

Disciplines

Business

Keywords

financial exclusion, financial technology, smart phones, microfinance, opportunities and challenges, financial growth

Indexed in Scopus

no

Open Access

yes

Open Access Type

Gold: This publication is openly available in an open access journal/series

This document is currently not available here.

Share

COinS