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Haitham Wagih: Banks and Non-Banking Financial Services Should Team Up to Boost the Economy, Not Compete

Haitham Wagih, Managing Director of Avanz Capital, emphasizes that banks and non-banking financial companies should integrate their efforts to support the national economy, rather than viewing their roles as a competitive struggle. He argues that collaboration is key to fostering economic growth and financial inclusion, drawing on his extensive experience in Egypt's financial sector.

1 min read
Haitham Wagih: Banks and Non-Banking Financial Services Should Team Up to Boost the Economy, Not Compete

Haitham Wagih, the Managing Director of Avanz Capital, stressed that the growing discussion about the roles of banks and non-banking financial companies in credit financing should be seen as an opportunity for integration that serves the national economy, rather than a competitive conflict where one side tries to exclude the other. Wagih explained on his LinkedIn account, drawing from his extensive experience in both the banking sector and investment firms regulated by the Central Bank of Egypt and the Financial Regulatory Authority, that the Egyptian market truly needs all types of financing and banking activities to support economic growth and expand the reach of financial services.

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Consumer Financing Haytham Wagieh, Managing Director of Avanz Capital Consumer finance crisis Banks and non-bank financial institutions

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