Arab Finance: Commercial International Bank Egypt (CIB) plans to launch its digital bank, Yomo, in Egypt during the fourth quarter (Q4) of 2026 as part of its strategy to expand digital banking services, CEO Hisham Ezz Al Arab told Asharq Business.
Ezz Al Arab said the bank has already secured regulatory approval to establish the holding company that will own the digital bank in Abu Dhabi and is nearing approval from the Central Bank of Egypt (CBE) to establish the operating company in Cairo.
He also clarified that the holding company was established in Abu Dhabi due to regulatory and tax considerations.
The launch comes as Ezz Al Arab warned about the growing risks associated with non-bank financing for individuals and the broader economic cycle.
