Egypt’s Minister of Youth and Sports, Ashraf Sobhi, has announced that the country is currently witnessing an integration stage across various bodies as part of President Sisi’s strategy and vision to deepen the Financial Inclusion process.
Sobhi disclosed this information as he attended the signing ceremony of contracts between his ministry and the National Bank of Egypt (NBE) and Banque Misr to establish 12 branches of the two banks at the youth centers with investment return hitting EGP 1.1 billion.
He expressed his pleasure at the agreement between both parties, noting that it would help increase the in-house resources of different youth centers and improve the services they offer. In essence, a major benefit from the agreement is the vision it has for the Ministry to support youth centers and clubs in the country, thereby lifting the burden from the State.
According to Sobhi, the Ministry still targets increasing the banks’ branches at the youth centers to 200. Seeing it as a relevant Investment in the development of youth, the ministry aims to make the best use of the National financial institutions to create an impact in the lives of young individuals in the country.