After The Central Bank of Egypt’s decision to include the age groups from 16 to 21 years old into the banking sector
The United Bank offers a financial package for young people and sets an ambitious plan to increase the base of financial inclusion
Ashraf El Kady - Chairman of The United Bank
• The largest percentage of Egypt's population is youth.
• Financial products and solutions suitable for youth groups in all governorates of the Republic.
• Attracting youth by including more new digital solutions.
• Media campaigns to spread financial literacy, entrepreneurship, and savings.
Cairo: January 28th, 2021
Ashraf El Kady – Chairman of The United Bank - announced the launch of a package of innovative financial solutions targeting youth. He, also, unveiled an ambitious plan for The United Bank to increase the base of financial inclusion in all portfolios according to the recent Central Bank’s decision to include the age groups from 16 to 21 years old, and the possibility of opening accounts with the ID card only.
El Kady added that the plan includes media and marketing campaigns for young people in all governorates of the Republic through 65 branches of The United Bank, focusing more on the governorates of the golden triangle and the axis of development, as well as the private, the new technological universities and the technical education institutions.
El Kady added that The United Bank is currently working on inventing a package of financial solutions targeting the youth group from 16 to 21 years old that suit their ambitions and aspirations. Therefore, young people can open an account in their names and deal digitally 24 hours, 7 days a week, with the utmost freedom and safety.
And that is through their possession of all the necessary mechanisms for financial transactions, such as cards and digital "Your Bank Online" services, which include internet banking, mobile banking and digital wallets, as well as a series of advantages that qualify youth for entrepreneurship in the future.
Numbers and indicators
Ashraf El Kady referred to The Central Agency for Public Mobilization and Statistics report, which indicated that 45% of Egypt's population is less than 25 years old and 1.3% is over 75 years old. This gave a strong push to the political leadership and The Central Bank of Egypt to aggressively target these groups and insert financial culture into their financial behaviors and habits, as a major step in becoming a cashless society.
He added that the infrastructure of Egyptian banks is highly qualified and secured to monitor the process of receiving money transfers and track purchases over the Internet.