Dr. Abdel Wahab Ghoneim, Vice President of the Arab Digital Economy Federation, confirmed that Egypt’s digital payments sector has grown strongly over the last five years, especially with the entry of many fintech startups whose value in Egypt has reached nearly $230 million. During his appearance on Extra News channel, he added that the launch of a digital bank in Egypt represents a major breakthrough that will reshape the digital payments landscape. Several banks are expected to be launched soon, while traditional banks will gradually decline. He also pointed out that digital payments volumes are increasing worldwide, with Egypt developing at a 13% growth rate. The Central Bank of Egypt is making significant advances, and the country hosts some of the largest digital payments companies in the Arab world and the Middle East.