Egyptian Central Bank Showcases Regional Leadership in Financial Cybersecurity
As part of its ongoing commitment to fostering continental cooperation
the Central Bank of Egypt (CBE) recently hosted a high-level delegation from
the Central Bank of Kenya (CBK) The three-day visit centered on Egypt’s advanced
cybersecurity infrastructure, particularly the Egypt Financial Computing Incident
Response Team (EG-FinCIRT), a pioneering model in cybersecurity across Africa
and the Middle East The Kenyan delegation, consisting of five
cybersecurity experts from CBK’s Banking Sector Security Operations Center (BS-SOC)
aimed to exchange knowledge and enhance
collaborative ties in the field of financial cybersecurity This visit highlights
the importance of shared expertise in combating growing cyber threats in the banking
and financial sectors
EG-FinCIRT: A Benchmark for Cybersecurity Excellence in Africa and the Middle East
Dr Sherif Hazem, CBE’s Sub-Governor for Cybersecurity, emphasized the significance
of such knowledge exchanges, stating, “The consistent engagement of African central
banks with Egypt underlines the CBE’s role as a leader in financial cybersecurity
This leadership is crucial as cyber threats escalate globally, requiring robust national
capabilities and the adoption of cutting-edge technologies
Dr Ibrahim Mostafa, Assistant Sub-Governor and Head of EG-FinCIRT, added
“EG-FinCIRT represents a leading regional framework for cybersecurity incident response
It coordinates with technical teams regionally and internationally, bolstering defense
mechanisms against the increasing wave of cyberattacks threatening economies worldwide
Central Bank : Cyber Threat Detection, FinTech Security, and Regulatory Compliance
During the visit, the Kenyan team explored Egypt’s sophisticated strategies
for cybersecurity threat detection and response Discussions covered the latest
cyberattack methodologies, especially within the rapidly evolving FinTech sector
and best practices for mitigating vulnerabilities
The exchange also focused on compliance with international cybersecurity
frameworks and standards tailored for financial institutions. Furthermore
it included insights into regulatory procedures for licensing FinTech applications
and tech solutions, ensuring secure digital transformation and market stability
Kenya’s Drive Toward an Integrated Cybersecurity Strategy Inspired by Egypt’s Model
The visit underscores Kenya’s intent to leverage the Central Bank of Egypt’s experience
in developing and implementing comprehensive cybersecurity strategies The Central
Bank of Kenya is currently in the process of adopting a unified cybersecurity framework
for its financial sector, mirroring Egypt’s successful approach
This strategy involves establishing a dedicated cybersecurity incident response
team for banking and financial operations, crafting a dynamic regulatory framework
that evolves with emerging threats, and rigorously reviewing digital applications
and systems before their deployment to guarantee security
About Central Bank of Egypt’s Cybersecurity Initiatives
The Central Bank of Egypt continues to set a regional standard in cybersecurity
for the financial sector, combining proactive incident response, advanced threat
intelligence, and strategic partnerships Its EG-FinCIRT serves as a vital hub
for protecting the integrity of Egypt’s financial markets and supporting regional
digital transformation initiatives
