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Egyptian Banking Institute to Launch 'Innovation' Competition

The 'Innovation' competition by the Egyptian Banking Institute will begin sometime in 2021.

The Egyptian Banking Institute, a training arm of the Central Bank of Egypt, is launching a competition called 'Al-Ibtikar' (or 'Innovation') in 2021. The competition will be treated as an opportunity for young bankers to influence the Egyptian banking sector by submitting innovative solutions, and help the banking sector adapt to the changing dynamics and standards brought about by advances in digital technology.

The competition will be split into three axes - fintech for the future of banking, fintech for individual finances, and fintech for businesses - each of which will reward the winner with a EGP 15,000 cash prize.