Fahmy asserts banking sector paramount on developing process

Economic expert Dr. Passant Fahmy underlined the importance of the meeting held between President Abel Fattah e-Sisi and the Governor of the Central Bank Tareq Amer

Economic expert Dr. Passant Fahmy underlined the importance of the meeting held between President Abel Fattah e-Sisi and the Governor of the Central Bank Tareq Amer on the activity of the state’s banking sector and the land assets that belong to the Egyptian government banks and the efforts to develop these assets. Hailing the president's directives to facilitate all challenges that surround the land assets, Dr. Fahmy said that the world knows that Egypt is having a very comprehensive plan to develop the economy in all aspects.

Over the phone to (Breakfast Show), she explained that when we look at the type of activities Egypt is going through and the plan of 2030, we realize we are developing a new country starting from infrastructure, new cities, green economy, blue economy, small, medium and micro finance, etc. all aspects of economy. She acknowledged the fact that Egypt needs to develop all governorates and slum areas towards better lives, hence the banking sector has the major role as this sector knows exactly what we have, the problems, where they exist, the solutions, and how to do this financially and technically.

She elaborated that preparing market studies for the land assets would serve as an added value to the activities of the government banking institutions as Egypt is very rich with assets. The banking sector is an expertise which makes sophisticated studies and evaluation on lands, projects and assets to activate that process, she reassured.

Commenting on President Sisi’s stress of the cyber security system of the financial sector by providing it with a secured infrastructure and qualified human cadres, she said that this enhances the readiness of the cyber security system in the banking sector. It is a major issue to protect the system in the coming years with all the change and progress of technology all over the world, she reaffirmed, stressing our need to be very highly protected and very highly connected with banks all over the world.

Dr. Fahmy stated that the major role of the banking sector is to boost the economy and finance companies starting from micro needs up to the major projects. Banks collect the people’s savings and invest them in a professional manner on the activities of the country, she concluded. 

(Breakfast Show) is aired daily on Nile TV International. This episode is presented by Amal Mokhtar.