Wednesday February 21st, 2024
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Central Bank of Egypt Considers Issuing Digital Pound

Still in its initial stages, the CBE is assessing the long-term viability of the proposition.

Cairo Scene

With the purpose of driving massive digital transformation to the country, the Central Bank of Egypt, in cooperation with the International Monetary Fund and the World Bank, is analysing the viability of the issuance of a digital Egyptian pound.

Said digital currency would be as viable as printed money, and will be used in transactions, trade and exchange. This will also contribute to the reduction of the amount of banknotes being issued.

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