Central Bank Expected to Make Qualitative Move with Launch of Digital Pound on May 23

I wonder what step is expected from the Central Bank on May 23, which changed the interest rate .. and why it will be a big surprise and a qualitative move for the Egyptian pound and the life of Egyptians in general.. Stay with us and we will see the details

As we said, the Central Bank’s Monetary Policy Committee will meet on 23 May to decide what happened to the interest rate, and despite disagreements about the expected decision, there is a consensus that The Central Bank raises the interest rate again. , and the issue is limited to stability and reduction.. But at the same time, the Central Bank can surprise us with other decisions, as it happened, in the decision to free the price of the note and increase the interest rate by 600 basis points, make more than one decision along with the interest rate decision.
Well, what is expected from the Central Bank in the next meeting There is good news that can come true, and that is in this meeting that the digital pound will be launched, after the Central Bank’s step to agree to launch the Bank of Egypt? for its digital version for the first time in the banking market, and this is on the way to digitization, financial inclusion, and the modernization of digital technology.
So, what is the digital pound and why does it represent a qualitative shift in the economy and in people’s lives? online shopping, or in short, anything for which you used to pay money now You pay in digital notes and electronically, and it is dealt with on money wallets on mobile phones, cards electronic payment, and certainly buying and selling transactions. .
So, what is the advantage of the digital pound In fact, it has very good advantages in financial transactions, because first of all, it will completely prevent theft, fraud, fraud, and fraud in the currency , as well as the electronic tracking process. payment functions for the digital pound, and at the same time it will reduce the worry of carrying a lot of money in your pocket or in your car and exposing it to the risk of theft or damage, and at the same time, printing paper will get today’s financial technology, that is it invests time and saves you many things that make a difference for you.
Anyway, the digital note was supposed to appear in 2030, but banking and economic experts said that it will appear very soon because the time is still very suitable for the development of financial technology in Egypt and at the same time ‘ market and human needs. for a digital version of the pound, and there are also high expectations that it will be launched at the next meeting of the Central Bank especially after the approval for the first digital bank in Egypt, which paves the way for mass finance development at the level of electronic payments and transfers.