t
Commercial International Bank (Egypt) SAE (CIB Egypt) announced on August 19, 2026, that it received preliminary approval from the Central Bank of Egypt to establish yomo digital bank. CIB is investing USD 300 million in yomo Holding's digital banking platform, which is to be first deployed in Egypt as an independently licensed digital bank. This approval enables yomo to enter its next phase of operational, technological, and customer readiness, subject to further regulatory approval.
| Date | 20 Aug 2026 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 4774R |
 |
PRESS RELEASE
CIB Egypt received today preliminary approval to establish yomo digital bank
Cairo, August 19th, 2026: CIB Egypt would like to announce that the Bank received today preliminary approval from the Central Bank of Egypt to establish yomo digital bank, in line with Egypt's digital banks' framework introduced in 2023. CIB is investing USD 300 million in yomo Holding's digital banking platform, to be first deployed in Egypt as an independently licensed and digitally native bank.
Backed by CIB's strength, governance, and fifty years of banking excellence, yomo aims to combine the trust of Egypt's leading private-sector bank with the speed, accessibility, and customer relevance of a digitally born bank. The approval enables yomo to enter the next phase of operational, technological and customer readiness ahead of the launch of its services, subject to regulatory approval.
END OF RELEASE
Yasmine Hemeda
Head of Investor Relations