CBE: AI for FinTech Hackathon Launched Under «FinTech Egypt» to Support Digital Egypt Builders Initiative

Cairo, 13 October 2025:

As part of the Memorandum of Understanding (MoU) signed between «Central Bank of Egypt» (CBE) and the «Ministry of Communications and Information Technology» (MCIT), which aims to support and strengthen the skills of youth and students participating in the “Digital Egypt Builders Initiative” (DEBI)—particularly in the areas of Artificial Intelligence (AI) and Business Analytics — and in alignment with the State’s strategic vision for digital transformation, the AI for FinTech “Hackathon” was launched under the umbrella of “FinTech Egypt” – an initiative by the CBE.

Hackathon Objectives

The Hackathon focused on providing students of the DEBI with the opportunity to tackle real-world challenges facing the banking sector and transform them into innovative digital solutions, using AI, data analytics, and advanced programming. These efforts aim to cultivate a new generation of young professionals equipped to lead the future of FinTech in Egypt.

Graduation Ceremony

At the conclusion of the Hackathon, a graduation ceremony was held for the participating teams, during which the students presented their projects to a specialized panel, experts, and decision-makers. The event was attended by Eng. Ayman Hussein, First Sub-Governor for the Information Technology Sector at the CBE; Dr. Hoda Baraka, Advisor to Egypt’s ICT Minister for Technology Talents Development; and Mr. Afdal Naguib, CEO and Managing Director of «Société Arabe Internationale de Banque (SAIB)».

CBE Statements

Eng. Ayman Hussein, First Sub-Governor at the CBE, emphasized that the Hackathon reaffirms the long-standing strategic partnership and fruitful cooperation with the MCIT, in line with the CBE’s FinTech and Innovation Strategy — particularly the “Talent Development” pillar, which focuses primarily on qualifying and empowering young professionals in Egypt. He further highlighted that this role is not limited to providing educational opportunities; it also involves equipping youth with the practical and intellectual skills necessary to keep pace with the rapidly evolving Egyptian job market and to compete regionally and internationally in this vital sector.

MCIT Statements

Dr. Hoda Baraka, Advisor to Egypt’s ICT Minister for Technology Talents Development, emphasized that the collaboration with the CBE highlights the power of unified efforts between state institutions, the banking sector, and academia. This is essential for equipping youth with practical and advanced technological skills, particularly in AI, data analytics, and FinTech. These events provide a dynamic platform for students to apply their knowledge to real-world challenges, transforming academic learning into innovative solutions that boost society and the national economy.

SAIB Statements

Mr. Afdal Naguib, CEO and Managing Director of «SAIB», highlighted that this “Hackathon” is designed to shape a new generation of FinTech  leaders in Egypt. The “Hackathon” acts as a practical graduation project for many DEBI students, reflecting their vision of bridging academic learning with market demands. The initiative offers students an exceptional opportunity to tackle real banking challenges under the mentorship of the FinTech management team and other bank departments, delivering hands-on experience. Winners will receive support to develop their projects in a professional banking environment, along with a cash prize. A special cash award will also be given to runner-up teams for their dedication, as well as direct employment opportunities to harness their skills in advancing the bank’s AI technologies.

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