Cairo 17, August 2025:
In light of Egypt’s commitment to strengthening collaboration with fellow Arab states, the Central Bank of Egypt (CBE) hosted recently a high-level delegation from the Central Bank of Iraq (CBI), headed by the Deputy Governor. The visit aimed to exchange expertise across various areas related to central banking operations.
Mr. Tarek ElKholy, Deputy Governor of the CBE, received the Iraqi delegation, led by Dr. Ammar Khalaf, Deputy Governor of the CBI, and discussed possible areas for joint cooperation. During the visit, the CBE showcased significant developments implemented across several sectors, including Banking Supervision, Financial Inclusion, FinTech, Payment Systems and Services, as well as Consumer and Competition Protection.
Additionally, the visit featured an in-depth presentation on several leading initiatives and projects, including the National Payment Scheme “Meeza”, the Instant Payment Network (IPN), the National Card Tokenization Platform, as well as electronic wallets, and the licensing framework for Payment Service Providers (PSPs).
The CBE’s FinTech and Innovation Strategy was also outlined, with particular emphasis on the Regulatory Sandbox, which offers a practical, live environment for testing innovative applications.
The delegation met with experts from the CBE to learn about the efforts implemented in supporting and developing national calibers in FinTech.
They also explored Egypt’s journey in promoting financial inclusion, culminating in a remarkable surge in the national economy. This progress aimed at empowering diverse community segments to make sound financial decisions and streamline daily transactions.
Discussions covered financial literacy initiatives, a cornerstone of the CBE’s financial inclusion strategy, a key factor in fostering public trust within the banking sector, and driving inclusive, sustainable economic growth.
The visit further highlighted the CBE’s dynamic efforts, alongside the banking sector, in supporting entrepreneurship and facilitating access to financial and non-financial services for Micro, Small, and Medium-sized Enterprises (MSMEs). The delegation gained insights into on-site and off-site supervision mechanisms, licensing procedures, the supervisory framework undertaken by the CBE, in addition to knowledge exchange in the credit risk aggregation field.
In this regard, the Iraqi delegation delved into Egypt’s unwavering efforts to reinforce trust in the banking sector through implementing the latest anti-fraudulent practices, anti-money laundering and countering the financing of terrorism (AML/CFT). These significant strides bolster financial stability and elevate the banking sector’s competence.
This collaboration reflects the fruitful partnership between both central banks, leveraging expertise in emerging fields and regulatory frameworks amid global developments. The Central Bank of Iraq commended the CBE’s exemplary efforts and transformative progress achieved over the recent years across the discussed areas.
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