Governor of the Central Bank of Egypt Hassan Abdalla and Minister of Supply and Internal Trade Sherif Farouk witnessed on Sunday, May 10, 2026, the signing of a cooperation protocol between the CBE and the ITDA to enable electronic access to unified commercial registry data for the banking sector, including the unified commercial registration number.
Abdalla said the protocol will improve the quality of corporate data across all business sizes, expanding access to financial services in line with the State’s vision for knowledge-based sustainable economic growth, while also enhancing the flexibility and competitiveness of the Egyptian economy and increasing job creation.
Farouk welcomed the enhanced cooperation with the Central Bank and the banking sector, noting that it aligns with Egypt’s digital transformation agenda. He highlighted that the authority has implemented integrated digital projects aimed at modernizing services, improving internal workflows, and reducing paper-based procedures.
The agreement marks a key step toward completing the Central Bank’s national corporate financial inclusion database by providing banks with accurate and updated company data, including economic sector, activity type, legal structure, ownership, capital, management structure, and geographic distribution.
It is expected to improve banks’ ability to offer faster and more accurate financial services, strengthen risk analysis, and design tailored banking products, particularly for micro, small and medium enterprises, as well as women-led businesses, while helping integrate the informal economy into the formal sector.
The protocol also supports Egypt’s efforts to promote gender equality, reduce financing gaps, improve the country’s ranking in global business indicators, and advance the Sustainable Development Strategy “Egypt Vision 2030.”
