The Central Bank of Egypt (CBE) is studying issuing the digital pound, in cooperation with the International Monetary Fund (IMF) and the World Bank, with the aim of boosting the country’s digital transformation, a government official told Asharq Business.
The digital pound can be used in transactions, trade, and money exchange between individuals and institutions via mobile phones, in addition to reducing the issuance of banknotes, the official noted.
He added that the studies would take some time, yet they are taking the right path.
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