Commercial International Bank – Egypt (CIB) said it received preliminary approval on Aug. 20, 2026, from the Central Bank of Egypt (Egypt's central bank) to establish yomo, a digital bank, under the country's digital banking framework introduced in 2023. Backed by CIB's governance and more than 50 years of banking experience, yomo is designed to serve Egyptians at home and abroad with simpler, more accessible digital financial services. The approval moves yomo into its next phase of operational, technological and customer readiness, while its launch remains subject to regulatory approval. CIB Group Chief Executive Hisham Ezz Al-Arab said yomo supports the bank's previously announced five-year strategy and targets growth among mass-market consumers and small and micro businesses. Newly appointed yomo CEO Rashwan Hammady said the initial licence was a milestone but only the start of the project. Before launch, yomo will complete technology validation, cybersecurity testing, regulatory compliance, customer-journey optimisation and operational-resilience work. The company expects to disclose more about its brand and customer experience later in 2026.