Egypt plans to issue central bank digital currency (CBDC) in 2030

Egypt plans to issue a central bank digital currency (CBDC), known as the electronic pound, by 2030. The Central Bank of Egypt (CBE) will issue this digital currency, which is expected to increase the competitiveness of Egypt's domestic currency and improve the efficiency of monetary policy.A research report commissioned by the Egyptian Ministerial Council for Information and Decision Support Center explains the details of the North African country's CBDC goals. The document, called "The Most Important Strategic Directions of the Egyptian Economy During the New Presidential Period (2024-2030)," identifies policies that will be crucial to the Egyptian economy over the next six years.In addition to making the launch of CBDC one of its priorities, the document also urges Egyptian monetary authorities to continue developing the financial sector. Like the launch of CBDC, its goal is to help Egypt achieve 100% financial inclusion by 2030.