 Welcome to the Fiji Symposum 2019 here in Cairo, Egypt, where I'm very pleased to be joining the studio today with Mr Gamal Khalifa who is the head of the microfinance units for the Financial Regulatory Authority of Egypt. Mr Khalifa, welcome to the studio. Hello, Max. Thank you very much. I'd like to start off by talking a little bit about digital financial services and I wanted to ask you from your perspective what do you think it will take for the world's poorest people to prefer digital financial services over cash? And will digital financial services be enough for this to happen? Definitely. They haven't had a chance to use the financial services before, so as soon as they use such services and realize the benefit that they can get, the facility and the ease and the security of using the service, definitely it will change their mind and it will change their attitude. What can we do to encourage it? Is the technology going to be enough? Is trust going to be enough? What do you think? I believe, as I mentioned, by realizing how easy and it is secure, people will change their mind about using cash. I mean, like having an account before and using your credit card, we used to be very afraid of leaving our credit card numbers floating around, but now when we see that things are secure and nothing has happened, so we learned that this is the way things are moving towards. In terms of innovation, what innovations do you think are required in regulatory collaboration to create an enabling environment for digital financial services? Basically, innovation by including most of the service under the same technology. I don't like to pay part of it technologically easy and the other part will use cash, so getting all the services together and making sure that we don't leave things out, this will facilitate things instead of multiplying our tasks. How do you see the fintech sector reshaping digital financial services? Definitely, this is it. Without it, things will always remain slow and will not catch up with the current movement. We don't like to be left behind or nobody is. At a national level, what role do you think governments can play to enhance the usage of digital financial services? By basically enhancing the service, making sure that it is unified, it is clear, consumer protection is very important, every element should be included in any regulation and making sure that we are dealing with many types of people. The awareness level is very different in this case. We need to make sure that everybody is included. We do not work with one group and leave the others. Awareness is definitely the best part we can make sure that it is available. Here, closer to home, what is Egypt and the region like in terms of digital financial services? Egypt is part of it now. It is becoming in our work even with microfinance. For the last four years, microfinance has been a formal and regulated business. For the first two years, we are working on regulation. Now for the last two years, we are working on introducing new products, introducing services like payment services that would allow and facilitate for customers to use the service and to reach the potential of microfinance. We see it coming. We see it really coming. People are afraid of using a new service, but as soon as they start and see how things are easy and it will facilitate their lives and make it easier, definitely they will never get back to using cash again. Are you taking the time to beat at this event? I wanted to ask you, why is this event important to you? It is really highlighting the importance of technology in payment systems and the use of technology. It is definitely a sign of commitment that is required by everybody. All the stakeholders are there and they are part of their commitment. I believe this is an annual or becoming, I would say, an event that keeps rolling and taking all the stakeholders together and putting them all together in one program and one strategy that is really making things happen. Thank you very much for making this happen today and we look forward to catching up with you again perhaps at the next incarnation of this event. With pleasure, Max. Thank you very much. Thank you very much indeed.