Egypt's First Fully Digital Bank Born: OneBank Gets Green Light from Central Bank
The Central Bank of Egypt has given the go-ahead for the transformation of "Misr for Digital Innovation" into OneBank, marking the birth of the country's first fully digital bank.
Scheduled to be operational by 2026, OneBank will offer banking services exclusively through digital channels, without relying on physical branches.
This development is part of the national strategy to modernize the banking sector, strengthen digitalization, and promote financial inclusion.
To support this shift, a new board of directors has been put in place, chaired by Engineer Khaled AlAttar, with Sherif ElBehery as General Manager. The latter has stated that the new institution "redefines the future of financial services in Egypt".
By leveraging advanced technologies, OneBank aims to provide accessible services at any time and from any location, targeting particularly unbanked or underbanked populations. An initiative that is expected to consolidate the competitiveness of the Egyptian financial system, both regionally and internationally.
