• CIB plans to set up a UK- or UAE-based holding company to own its upcoming Egypt-focused digital bank.
• The bank expects to obtain a license within six months and launch operations in 2026, according to CEO Hisham Ezz Al-Arab.
• CIB may expand the digital bank internationally two years after launch, offering Egypt’s one million customers a fully online banking option.

CIB

According to Asharq Business, Egypt’s Commercial International Bank (CIB), plans to establish a holding company in either the UK or the UAE. This is to establish its planned digital bank, for which it intends to apply for a license within six months.

In an interview with Asharq Business, on the sidelines of the 2025 IMF–World Bank Annual Meetings in Washington, CIB CEO Hisham Ezz Al-Arab said the bank hopes to secure the license and begin operational work for the digital bank in 2026.

He also adds that the bank may expand its digital banking model to international markets two years after launching it in the most populous Arab country.

The CIB CEO said the bank’s around one million customers in Egypt will later be able to choose between traditional banking services and those offered by the new digital bank.

Digital Banks

Digital banks are financial institutions that operate entirely online through mobile apps and websites, without the need for physical branches. They offer automated, simplified services such as opening accounts, transferring funds, paying bills, and obtaining loans.

In July 2023, Egypt’s Central Bank issued the first-ever regulations for licensing and registering digital banks. It allowed customers to conduct all their banking services exclusively through digital channels and platforms.

Bottom Line: CIB is moving strategically to secure a digital banking license and start operations in Egypt by 2026. The bank may expand internationally two years after launch, giving its one million customers new digital banking options.