CAIRO: The Egyptian banking sector has pumped EGP 2.8 trillion ($178 billion) into the Egyptian economy this year, Head of Egypt's Banque Misr said in an interview with Al-Arabiya.
Mohamed El-Etreby said that The Federation of Egyptian Banks (FEB), headed by Mohamed El-Etreby, has contributed EGP 500 million ($31.824 million) towards Egypt’s purchase of vaccines for the novel coronavirus (COVID-19) pandemic.
El-Etreby revealed that The FEB’s support continues its pivotal role in supporting the Egyptian state’s efforts to combat the coronavirus, under the auspices of the Central Bank of Egypt (CBE).
He added that FEB provided the financing for the vaccines with 5 Egyptian banks contributing EGP 170 million ($10.8 million) to manufacture the vaccine in Egypt.
El-Etreby noted that the banking sector has a plan to counter cybersecurity threats in cooperation with the Central Bank of Egypt.
At the forefront of those efforts comes the coordination of a donation campaign for those affected by the repercussions of the coronavirus. Banks working in the Egyptian market have donated over EGP 750 million ($47.7 million) towards this cause.
