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30-09-21
Fintech fund of USD64M to be launched by 3 Egyptian banks
(MENAFN) Egyptian banks, Banque Misr, and Banque Du Caire, Banque Misr, are preparing a fund to support fintech companies.
A statement from the Central Bank of Egypt showed that the fund, to be initiated in next month, is going to have a minimum capital of one billion Egyptian pounds (USD64 million), with the chance of contributing other banks or financial institutions.
According to the three banks, their contribution in this fund stems from their belief in the significance of running with global developments in the field of financial technology, which is the future of the banking and financial industry.
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