Share of population owning or using a financial product or service in Egypt 2020

As of 2020, the share of the Egyptian population with an account in a financial institution amounted to 32 percent. On the other hand, only 3.3 percent reported owning or using a credit card. Moreover, only 1.8 percent and 3.5 percent of the population reported owning a mobile account in a financial institution, or making purchases and paying bills online, respectively. In the country, the shadow and semi-informal economy accounts for somewhere between 30 and 40 percent of the total economic output. Integrating that part into the formal economy is crucial to increase the tax base, increase regulation, and improve the attractiveness of the country as an investment hub in the region.