FINANCIAL TECHNOLOGY IN EGYPT BETWEEN OPPORTUNITIES AND CHALLENGES

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.