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CBE-Hosted Fintech Innovation Sprint Launched to Address COVID-19 Challenges

Source: Daily News Egypt

The Central Bank of Egypt (CBE) has collaborated with the Financial Regulatory Authority (FRA) to launch an innovation sprint to address the challenges caused by the novel coronavirus (COVID-19) pandemic. It comes as part of Egypt’s financial technology (fintech) and innovation strategy that aims to achieve the state’s goals in using technology, as well as promoting innovation and financial inclusion.

The sprint also aims to unearth, develop, and refine fintech solutions that directly address the pandemic in Egypt. The sprint targets entrepreneurs and startup owners who develop these forms of solutions that may support Egypt’s banking sector and financial institutions to surmount the repercussions of the pandemic.