Does the educational system in Egypt meet the requirements of the banking system?
There are no specialized institutions. There are some courses in the universities, but we rely on on-the-job training, the tailored courses organized by the banks themselves or the Banking Institute of the Central Bank, or we send our staff to be trained by our correspondents abroad. What about the introduction of new technologies? We are trying to introduce the latest technology. There are a number of banks which are building an ATM network. In March 2000, we will operate a system, throughout the Central Bank, to enable transfers among local banks through swifts at a very low cost. This will help customers get their transfers immediately. We are working on improving the automation of the banking system as a whole, including clearance and the settlement of payments. In this respect we are implementing some programs based on the EU and the US experience. Would you say that after these measures are implemented, Egypt’s banks will be able to cope with the latest technology and compete wit
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