Digital-only bank Onebank receives approval from the Central Bank of Egypt

In a significant move for Egypt's financial sector, the Central Bank of Egypt has formally approved the transition of Misr Digital Innovation into onebank, marking the launch of Egypt's first fully digital bank. This transformation represents a defining moment in the country's digital transformation and financial inclusion efforts.

Sherif El-Behiry, CEO and Managing Director of onebank, has emphasised the bank's commitment to redefining the future of banking in Egypt. He stated, "Our mission is to deliver smarter, more inclusive, and seamless banking services that are accessible to every Egyptian citizen." This commitment is shared by Khaled El Attar, the newly appointed Chairperson of onebank, who is supported by a diverse board of directors with global expertise spanning technology, law, investment, public policy, and innovation.

The board brings a wealth of experience and strategic vision to deliver innovative financial solutions. Sherif El-Behiry further underscored this mission, stating, "We aim to align our offerings with the evolving aspirations of Egyptian consumers." The new platform designed by onebank is designed to meet the evolving expectations of Egypt's digitally savvy population while extending financial access to underserved and unbanked communities.

Onebank's launch reinforces Egypt's national digital economy agenda, with the rollout of products and services scheduled for 2026. The bank's focus on digital services enables customers to access secure, intuitive, and technology-driven banking services exclusively through digital channels, without reliance on traditional branch infrastructure.

Sherif El-Behiry highlighted the importance of this approach, stating, "Our transformation enables customers to access banking services in a way that is convenient, efficient, and aligned with the digital age." By prioritising digital services, onebank aims to position itself at the forefront of the Egyptian financial sector and raise the benchmark for banking excellence across the region.

The launch of onebank is a testament to Egypt's commitment to advancing digital transformation and financial inclusion. With its focus on inclusivity and innovative financial solutions, onebank is set to play a significant role in shaping Egypt's digital economy and financial sector in the years to come.