CBE approves onebank, Egypt’s digital-only bank

By Vriti Gothi

Misr Digital Innovation has received formal approval from the Central Bank of Egypt (CBE) to transition into onebank, marking the launch of the country’s first fully digital bank. This milestone represents a defining moment for Egypt’s financial sector, reinforcing national efforts to advance digital transformation, extend financial inclusion, and position Egypt as a regional leader in banking innovation.

Founded in 2020 with the full support and investment of Banque Misr, Misr Digital Innovation was established with a clear mandate: to build a next-generation digital economy underpinned by inclusive financial services. Its transformation into onebank reflects this vision, enabling customers to access secure, intuitive, and technology-driven banking services exclusively through digital channels—without reliance on traditional branch infrastructure.

The new platform is designed to meet the evolving expectations of Egypt’s digitally savvy population, while simultaneously extending financial access to underserved and unbanked communities. By embedding financial inclusion at the core of its operating model, onebank aligns closely with Egypt’s national digital economy agenda. The rollout of products and services, scheduled for 2026, will mark a new chapter in the modernisation of Egypt’s financial landscape.

To strengthen its governance and leadership, Khaled El Attar has been appointed Chairperson of onebank, supported by a diverse board of directors with global expertise spanning technology, law, investment, public policy, and innovation. This collective leadership will guide the bank’s mission to accelerate Egypt’s digital transformation journey and raise the benchmark for customer-centric financial solutions.

Khaled El Attar, Chairperson of onebank, said, “This is a new beginning in Egypt’s financial history and a pivotal step in embedding digital transformation into the national economy. Our mission is clear: to deliver smarter, more inclusive, and seamless banking services that are accessible to every Egyptian citizen.”

Sherif El-Behiry, CEO and Managing Director, said, “We are not just introducing a new digital bank; we are redefining the future of banking in Egypt. Our board brings a wealth of experience and strategic vision that empowers us to deliver innovative financial solutions aligned with the evolving aspirations of Egyptian consumers. Together, we are committed to positioning onebank at the forefront of the financial sector and raising the benchmark for banking excellence across the region.”