QNB Group Secures Licence to Launch ezbank in Egypt

Doha-based QNB Group, the largest financial institution in the Middle East and Africa, has announced that it has received license approval to launch a digital-first banking entity, ezbank, from the Central Bank of Egypt.

This milestone reflects the Group’s commitment to supporting the Central Bank of Egypt’s vision for financial inclusion and digital transformation, as well as the government’s broader economic development strategy.

The license approval for ezbank is an important step in Egypt’s ongoing efforts to transform the banking sector. By securing the approval, ezbank positions itself at the forefront of this transformation, reflecting Egypt’s growing role as a hub for innovation and financial inclusion.

ezbank will combine advanced digital technology with international best practices to offer seamless financial services to a broad customer base. The bank will use mobile-first platforms, AI-driven tools, and smart risk management to make transactions easier, increase access, and support Egypt’s digital economy.

QNB Group is one of the leading financial institutions in the Middle East and Africa and is ranked as the most valuable banking brand in the MEA region. Present in over 28 countries across Asia, Europe, and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals.

Second Licence for ezbank

It may be recalled that QNB Group secured licence from Saudi Central Bank ‘SAMA’ for launching ezbank in Saudi Arabia in cooperation with Ajlan & Bros. Holding, with a capital of $670 million on October 1.

The approval for ezbank is an important step in QNB Group’s ongoing efforts to transform the banking sector in the markets in which it operates, across over 28 countries in three continents, QNB said.

This initiative also marks a pivotal moment in the Kingdom’s banking sector, reflecting a commitment to innovation, financial inclusion, and the broader economic development goals outlined in Vision 2030.

The entity aims to offer a digital-first banking experience that is simple, inclusive, and secure, and to provide innovative solutions for the youth and entrepreneurs. The bank will use mobile-first platforms, AI-driven tools, and smart risk management to make transactions easier, increase access, and support digital economy.

With this, the total number of licensed banks in Saudi Arabia reached 38, including 14 local banks, of which three are digital. In addition, there are 24 branches of foreign banks.