The Central Bank of Egypt (CBE) has officially approved the transformation of Misr for Digital Innovation into a digital banking unit called OneBank, marking the launch of the country’s first fully digital bank, Al Arabiya reported on August 17.

The bank is scheduled to begin operations in 2026. It will offer services exclusively through digital channels and platforms, eliminating the need for traditional branches.

Founded in 2020 as Egypt’s first fintech-focused entity, Misr for Digital Innovation received full backing from CBE. The transformation into OneBank represents a strategic move to advance Egypt’s digital economy and promote financial inclusion nationwide. The initiative aims to provide secure, accessible banking solutions available anytime and anywhere.

Alongside the rebranding, OneBank has announced a new board of directors composed of leading experts in technology, law, investment, and public policy. Khaled El Attar will chair the board, while Sherif El Beheiry serves as CEO and managing director. 

OneBank aims to enhance financial access for underserved segments of the population in line with Egypt’s national digital transformation strategy. The new unit plans to offer innovative financial products that boost the efficiency and competitiveness of Egypt’s economy and financial sector on both regional and global levels, according to Al Arabiya.