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AfricaApril 3 2018

Bouyant banks shape Egypt's vision for 2030

Egypt’s banks are throwing their weight behind extending financial inclusion to small and micro businesses, as well as the country's wider population as part of the national Vision 2030 strategy, helped by changes to the bankruptcy system and hopes of lower interest rates. James King reports.
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Egypt’s banks have long played an outsized role within the country's economy. Through the country’s most difficult years, from the financial crisis to the political turmoil of the recent past, the strength of Egypt's banking sector has been a constant source of stability. And this role is unlikely to diminish.

Today, in many ways, the country’s banks help underpin the wholesale transformation of the market in which they operate. As Egypt marches towards the goal of a balanced and diversified economy under the government’s Vision 2030 strategy, its lenders are greasing the wheels of commerce and private enterprise to help it get there.

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