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IDB Chair: InstaPay to Fight Shadow Economy
The Central Bank of Egypt has announced a new initiative to promote financial inclusion, allowing people to open a free bank account for 15 days in Egyptian banks on the occasion of "Farmer's Day." This initiative comes as part of efforts to enhance banking services and make them more accessible. It is accompanied by expectations of a possible increase in interest rates before the end of 2026, according to banking officials. It is worth noting that the initiative aims to encourage citizens to rely on banking services and stimulate economic growth.
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