CAIRO: Fawry, the leading nationwide Electronic Bill Presentment and Payment (EBPP) platform in Egypt, will organize Egypt’s first financial inclusion conference in Cairo on June 17.
Fawry’s event which is entitled “Towards Greater Access to Financial and Governmental Services,” was announced in a Thursday press conference held in collaboration with the International Finance Corporation (IFC) and MasterCard.
The conference will be held under the auspices of the Egyptian Minister of Communications and Information Technology, and in partnership with IFC and MasterCard, both of which have accumulated global expertise in extending financial and governmental services to all social classes.
“The conference aims to discuss the best means to extend financial and governmental services to small and micro enterprises and the most needy Egyptians, a process that is one of the most important mechanisms of engaging the informal sector in the State’s system as well as attaining social justice,” Said Ashraf Sabry, CEO of Fawry.
With the hope of reaching the best model that fits Egypt’s needs, Fawry invited from Brazil, Mexico and India, as well as those who carried out various experiments in Africa, to enrich the discussion around the actual challenges, models and reasons for success or failure in these countries.
Magdy Hassan, Country Manager – Egypt, MasterCard, said “MasterCard has been at the forefront of developing innovative payment programs aimed at bringing the unbanked, which is nearly 65 per cent of the country, under the ambit of formal financial services.”
Consultative Group to Assist the Poor (CGAP), a World Bank research institution in the field of financial access, and the Groupe Speciale Mobile Association (GSMA), a leading research institution in mobile phone applications that pertain to various aspects of life, will participate in the conference, according to a statement distributed on reporters after the press conference.