CBE approves Misr Digital Innovation’s transition to onebank
Updated 8/17/2025 1:53:00 PM
Arab Finance: The Central Bank of Egypt (CBE) has granted approval for Misr Digital Innovation (MDI) to transition into onebank, the country’s first fully digital native bank, as per a press release.
The move positions onebank to deliver financial services exclusively through digital platforms, reflecting Egypt’s strategy to expand its digital economy and advance financial inclusion.
Founded in 2020 with Banque Misr as its main shareholder, MDI has been a key player in Egypt’s financial sector. Its transition into onebank aligns with the country’s vision for digital transformation, with the bank set to launch its products and services to the public in 2026 following CBE’s final approval.
onebank aims to provide secure and inclusive financial solutions accessible anytime and anywhere, using advanced technologies to meet the needs of a digital-first market.
The transformation is backed by the appointment of Khaled El Attar as chairman and the formation of a new board of directors composed of leaders from banking, technology, law, investment, and public policy.
El Attar, with more than 35 years of experience in informatics and digital transformation, has overseen over 150 IT projects across multiple countries and previously served as Vice Minister for Administrative Development, Digital Transformation, and Automation at the Ministry of Communications and Information Technology.
Sherif Elbehery, who has over 25 years in financial services across Citibank, Barclays, and Banque Misr, will serve as chief executive officer (CEO) and managing director. He played a leading role in establishing MDI and brings expertise in retail, SMEs, and Islamic banking.
The board also includes Anwar Zeidan, a founding partner at Zulficar & Partners Law Firm and Banque Misr representative; Amal Enan, CIO of AUC’s Endowment and Partner at 500 Global; Ayman Ismail, founder of AUC Venture Lab and Innovation Hub; and Nada Elshazly, professor and consultant in economics and financial transformation.
With this leadership team, onebank is positioned to guide Egypt’s digital banking shift, supporting both financial inclusion and the country’s broader digital economy strategy.
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