Egypt believes in Cashless Economy

The Egyptian Cabinet’s Information and Decision Support Center (IDSC) announced Sunday that Egypt has joined the list of countries whose central bank has successfully managed the transition to cashless economy.

The country committed towards transitioning to a digital economy as part of Egypt’s Vision 2030, it added.

The announcement came through an infographic published by the IDSC on Sunday, entitled “Egypt is moving towards a cashless economy” which highlights the most prominent findings regarding electronic collection and payment technologies in the report The “Arab Region Fintech Guide”.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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