The Central Bank of Egypt (CBE) recently hosted a high-level delegation from the Central Bank of Iraq (CBI), led by Deputy Governor Ammar Khalaf. The visit aimed to exchange expertise across a wide range of central banking operations. The delegation was received by CBE Deputy Governor Tarek ElKholy, who discussed potential areas of joint collaboration with his Iraqi counterpart. The visit included presentations on Egypt's recent advancements in banking supervision, financial inclusion, FinTech, payment systems and services, and consumer and competition protection. The Iraqi delegation was introduced to several flagship initiatives, including the National Payment Scheme "Meeza," the Instant Payment Network (IPN), the National Card Tokenization Platform, electronic wallets, and the licensing framework for Payment Service Providers (PSPs). The CBE also highlighted its FinTech and Innovation Strategy, particularly the Regulatory Sandbox, which provides a live testing environment for innovative financial applications. Meetings with CBE experts offered insights into Egypt's efforts to build national capabilities in FinTech and to promote financial inclusion, which has contributed to stronger economic participation. Discussions also covered financial literacy programmes, regarded as a cornerstone of the CBE's inclusion strategy, designed to foster public trust in the banking system and drive sustainable economic growth. The visit further highlighted the CBE's role, alongside the banking sector, in supporting entrepreneurship and expanding access to financial and non-financial services for micro, small, and medium-sized enterprises (MSMEs). The Iraqi delegation also examined Egypt's on-site and off-site supervision mechanisms, licensing procedures, and supervisory framework, as well as knowledge-sharing in credit risk aggregation. In addition, the CBE presented its latest practices in anti-fraud systems, anti-money laundering, and countering the financing of terrorism (AML/CFT), which have strengthened financial stability and enhanced the sector's resilience. The visit underscored the growing partnership between the two central banks, fostering the exchange of expertise in emerging fields and regulatory frameworks amid evolving global developments. The Central Bank of Iraq commended the CBE for its transformative progress and exemplary achievements across multiple areas of central banking.
