Banque Misr’s subsidiary, Misr Digital Innovation, has received approval from the Central Bank of Egypt (CBE) to transition into onebank, set to become the country’s first fully digital bank.

The launch of onebank’s products and services is expected in 2026, with all offerings delivered exclusively through digital channels, according to Daily News Egypt.

Sherif El-Behiry, Managing Director and CEO of Misr Digital Innovation, 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.”

Founded in 2020 with full funding and backing from Banque Misr, Misr Digital Innovation’s transformation into onebank forms part of a clear strategy to build a modern digital economy.

The bank aims to provide secure, user-friendly, and technology-driven financial services that are accessible at any time and from any location, without the need for physical branches.

To lead this transition, Khaled El Attar has been appointed chairperson, supported by a board of directors comprising prominent figures in technology, law, investment, public policy, and innovation.

El Attar described onebank as

“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.”

Featured image credit: CBE