CBE Showcases AI, Digital Identity Systems at 12th PAFIX Conference

Egypt’s Central Bank (CBE) has reaffirmed its commitment to accelerating financial digitization and expanding financial inclusion through its prominent participation in the 12th International Exhibition and Conference on Digital Payments, Financial Inclusion, and Digital Banking (PAFIX). 

The event, held under the auspices of the CBE, runs alongside Cairo ICT from November 16 to 19.

Speaking on the sidelines of the opening, CBE Governor Hassan Abdullah emphasized that the bank’s annual participation reflects Egypt’s strategic prioritization of digital transformation within the financial and banking sectors.

“The Central Bank is keen to stay ahead of technological developments, especially in financial technology and artificial intelligence,” Abdullah said. “We aim to continuously develop digital payment systems and modernize banking services to ensure they are faster, easier, and meet the highest global security standards.”

During the official opening of the exhibition, Prime Minister Mostafa Madbouly toured the Central Bank’s pavilion, where he was briefed on a series of key national projects in fintech, artificial intelligence, and electronic payment systems.

Among the most notable presentations was the CBE’s Digital Financial Identity System, which introduces remote customer identification technology for opening digital bank accounts. The system enables banks and licensed financial service providers to verify customer identities electronically (e-KYC), eliminating the need for in-person branch visits and offering a secure, streamlined onboarding experience.

Officials also demonstrated real-time remote identity verification tools designed to expand access to digital banking, particularly for underserved segments.

The CBE pavilion features a diverse lineup of activities this year, including an educational display tracing the evolution of financial transactions through history. It also hosts discussions with representatives from banks, fintech startups, and industry experts on the future of digital transformation, emerging fintech trends, and the accelerating role of artificial intelligence in financial services.

Visitors can also engage with a dedicated interactive zone highlighting the capabilities of InstaPay, Egypt’s flagship instant payment application.

Senior CBE officials are scheduled to speak at multiple conference sessions on Monday and Tuesday, addressing some of the most pivotal issues facing the global banking industry. Discussions will focus on the profound structural shifts triggered by advanced technologies, particularly AI, and their impact on regulatory frameworks, financial infrastructure, and service delivery models.