For most Egyptians, monetary policy is an almost arcane subject. Therefore, and while we are fully dedicated to an independent and competent financial system,  this program is more about explaining questions than defending specific answers. As we struggle with the technical aspects of monetary policies, we will try our best to provide the public with clear choices in the simplest terms possible. 

The Egyptian financial and monetary system witnessed crucial reform with the enactment of law 88/2003 on the Central Bank, Banking Sector and Money. However while the law effectively gives the Central Bank of Egypt (CBE) absolute power over monetary policy and financial regulation, it does not provide for sufficient measures to ensure the independence of CBE from government. For example, the law states that all members of the board of CBE are appointed by the President of the Republic (Article 12). Therefore, our monetary policy program seeks to revise the law to ensure the independence of CBE as well as the autonomy of private financial institutions on one hand, and on the other to monitor and critique the policies of CBE on a regular basis. Moreover, as monetary policy is one of the least discussed issues in Egypt, we will seek to bring it into public discussion in simple and accessible terms.