Moataz Motawaa has been appointed as the Chief Executive Officer of "onebank" Succeeding Sherif El-Beheiry. The move is backed by Banque Misr as the main shareholder of the entity, which is the first digital bank to receive an official operating license from the Central Bank of Egypt (CBE). Motawaa's selection to lead the new bank follows banker Sherif El-Beheiry and comes after the bank officially secured its final license last week. This milestone was reached upon fulfilling all regulatory and technical requirements governing the operation of digital banks in the Egyptian market.
Moataz Motawaa possesses extensive experience spanning many years in the banking sector. He has served as the General Manager of the Central Department for Payments and Electronic Channels at Banque Misr since October 2017. Previously, he was a member of the Board of Directors of e-finance Investment Group, representing Banque Misr, as part of his role in supporting the development of Egypt's digital payments infrastructure.
Earlier in his career, Motawaa held the position of Head of the Payroll Sector at the Commercial International Bank (CIB). There, he contributed to the development of payment services and digital banking products, in addition to leading several initiatives related to digital transformation and the expansion of electronic banking services.
Throughout his professional career, Motawaa has overseen retail banking and digital payments sectors. He has also formulated financial technology (FinTech) strategies that have contributed to the development of business models and the enhancement of operational efficiency through innovative digital solutions, ultimately supporting market share growth for the institutions where he worked.
The launch of onebank aligns with the accelerated transition toward digital banking services in Egypt. It represents a new step toward introducing a generation of banks that offer their services entirely through digital platforms, without relying on traditional physical branches.
In July 2023, the Central Bank of Egypt issued the regulatory frameworks for licensing and operating digital banks. These rules set a minimum capital requirement of EGP 2 billion to conduct retail banking activities, which increases to EGP 4 billion if the bank intends to provide financing services to large corporations. This initiative falls under the broader framework of supporting financial inclusion and fostering competition within the banking sector.