Leading and rapidly growing provider of financial technology and electronic payments solutions, OPay, just announced its intention to apply for a license to establish a digital bank in Egypt with a capital of $60 million, according to the rules for licensing and registration of digital banks, and control and supervision recently issued by the Central Bank of Egypt.
This step is within the framework of OPay’s commitment to its role in developing the Egyptian digital economy, supporting the Egyptian state’s plans towards digital transformation, strengthening the principles of financial inclusion, and building a society less dependent on cash transactions, using the best, fastest and safest financial technology solutions in the Egyptian market provided by OPay, along with its experience in the field of digital transformation in the countries of the Middle East and North Africa, Nigeria, and Pakistan.
The company aims to enhance its services with innovation and the latest technological solutions to meet the needs of the Egyptian market and facilitate the conduct of financial and banking transactions for customers, as the company will work through the digital bank to provide lending, savings, and card services via the Internet without the need for customers to go to branches, in addition to OPay services to accept payments Such as points of sale, digital payment gateway, and electronic wallets.
