PM follows up with CBE governor on joint coordination efforts in several economic files

Prime Minister Mostafa Madbouly emphasized the strong collaboration between the Egyptian government and the Central Bank of Egypt (CBE) as they prepare for the National Economic Transformation Program. This initiative aligns with President Abdel Fattah al-Sisi's directives and seeks to harmonize economic, fiscal, monetary, and sectoral policies and measures, ultimately benefiting the national economy.

During a meeting on August 24, 2026, Madbouly discussed priority economic matters with CBE Governor Hassan Abdalla at the government complex in New Alamein City. The two sides reviewed progress on reducing inflation, boosting dollar inflows, enhancing foreign currency reserves, and implementing economic and structural reforms. Madbouly confirmed Egypt's robust foreign currency reserves, sufficient to meet essential commodity needs.

Abdalla announced that the CBE Board had approved regulations for the Digital Financial Identity System, facilitating banks' customer identification and electronic verification. This initiative supports digital transformation and financial inclusion, adhering to the Egyptian government's vision of transitioning to digital financial services.

The regulations establish a comprehensive regulatory framework, outlining governance, roles, responsibilities, technical and operational requirements, data protection controls, and cybersecurity measures. This ensures services are delivered securely and efficiently, meeting international best practices.