Egypt CBDC

Description: The central bank of Egypt (CBE) announced that it exploring the value of a CBDC in December 2018. No further updates have been made since this announcement. → The Central Bank of Egypt (CBE) announced that it exploring the value of a CBDC in December 2018 and announced it will issue a digital pound (e-pound) by 2030.

Main motivation/goals of the CBDC: The central bank of Egypt (CBE) says that a CBDC can help keep issuance and transaction costs to a minimum compared to banknotes. → The Central Bank of Egypt (CBE) says that a CBDC can enhance the competitiveness of the national currency and increase the efficiency of monetary policy, and exploit opportunities provided by digital transformation to further develop the Egyptian financial sector.

Link to announcement: www.egyptindependent.com

None → Research

Announcement Year: 2018

Retail/Wholesale: Retail

Description: The central bank of Egypt (CBE) announced that it exploring the value of a CBDC in December 2018. No further updates have been made since this announcement.

Main motivation/goals of the CBDC: The central bank of Egypt (CBE) says that a CBDC can help keep issuance and transaction costs to a minimum compared to banknotes.

Link to announcement: medium.com

Country / Region: Egypt

Central Bank(s): Central Bank of Egypt (CBE)