The Central Bank of Egypt honors the winning students of the FinYology initiative

In implementation of the President's directives to support youth and encourage innovation as one of the main ways to achieve the sustainable development goals of Egypt's Vision 2030

FinTech Egypt organizes an initiative to encourage universities and young talents to participate in providing innovative and promising solutions in the field of financial technology and promoting financial inclusion.

FinTech Egypt, affiliated to the Central Bank of Egypt, organized a closing ceremony remotely to celebrate the winners of university students participating in the FinYology-FinTech for Youth initiative, which was launched in February 2020 to nurture young talents and encourage university students in related disciplines to present promising innovative solutions in the field of financial technology. With the participation of representatives of the Central Bank, universities and banks participating in the initiative, to honor the winning groups from each university.

 

The distinguished participation of university talents in the initiative came through the inclusion of financial technology projects within the study programs of some theoretical and practical subjects for university students, taking into account the suitability of these projects to the nature and needs of the current Egyptian banking and financial market that need digital solutions, which were previously monitored and published on the FinTech Egypt platform. Including achieving financial awareness and financial inclusion for the most needy groups.

 

Ramy Abul-Naga, Deputy Governor of the Central Bank of Egypt, said, "The initiative comes within the framework of implementing the directives of the President of the Republic to support youth and encourage innovation as one of the main ways to achieve the sustainable development goals of Egypt's Vision 2030, as the Central Bank is keen, through FinYology-FinTech for Youth, to promote financial technology education." "Youth and supporting talents in this field, as part of the efforts to activate the financial technology and innovation strategy, in which interest in innovators is a fundamental pillar of its success and achieving financial inclusion."

 

For his part, Ayman Hussein, Deputy Governor for the Information Technology Sector, said, "The launch of the FinYology-FinTech for Youth initiative comes from the reality of an ambitious vision of the Central Bank of Egypt that aims to expand the courses and specializations of financial technology in the future in various universities, with the aim of keeping pace with the large and successive booms that this important industry is witnessing. By promoting innovation in financial technology in the Egyptian market, discovering talents from young people in this vital field and sponsoring their ideas and projects.

 

Students from the American University in Cairo, the German University in Cairo, New Giza University, the Arab Academy for Science, Technology and Maritime Transport in Cairo, and Nile University participated in the initiative in the fields of entrepreneurship and innovation, finance, computer science, and computer engineering in each semester. The second semester of 2019-2020 and the first semester of 2021-2020.

 

The activities of the initiative witnessed many sessions in the field of financial technology held by the Central Bank, in cooperation with the Egyptian Banking Institute, for more than 600 students from those universities, who participated in it, either physically or electronically, to face the repercussions of the Corona pandemic.

 

Al-Ahly of Egypt, Egypt, Alexandria, Qatar National Bank, Al-Masry Export Development, Emirates NBD, and Al-Ahli Kuwaiti have provided technical support to students during the implementation of their projects to develop and refine their experiences and skills in addition to summer training and incentive programs (whether at bank headquarters or virtual business programs) for the winning groups. In order to support students' abilities to create promising applications that help in accessing financial services quickly and easily, and to help develop their ideas and study projects in the field of financial technology while providing the possibility for their application, development and expansion in the future.