IDSC: Investments in fintech hit dlrs 167m in first half of 2022

The cabinet’s Information and Decision Support Center (IDSC) said investments in financial technology reached dlrs 167 million in the first half of 2022, thus rising 12 times compared to 2017.

This came in the center’s analysis of digital financing or financial technology and the innovative applications that contributed to providing financial services for individuals and companies swiftly and at lower cost.

This promotes financial inclusion and facilitates financial and credit services, the center said.

The center added that the Central Bank of Egypt launched in 2019 a strategy for getting Egypt to be a regional hub for offering financial technology services.

MENA