ITS — the leading Egyptian company in technology solutions — organised a conference on Saturday in the presence of a large number of banks and fintech companies operating in the Egyptian market to discuss new legislation and regulatory framework related to cybersecurity within the banking and financial sector.

The conference also discussed ways of cooperating with banks to provide all solutions and services that help secure their customers’ data, in addition to qualifying and training young people to work in the field of cybersecurity in various sectors.

Mohamed Mamdouh Abu Shahba — a Board Member at ITS — said in a statement that the banking sector enjoys strict monitoring by the designated authorities to ensure that customer data is protected and secured.

He added that ITS has been working with the banking sector by discussing with banks the new regulatory frameworks, which were issued by the Central Bank of Egypt (CBE), to provide advice and to ensure that these frameworks are implemented by banks without any defect or deficiency.

Furthermore, Abu Shahba said that the conference also discussed the various risks that the banking sector is exposed to and how to address them, noting that the coming period will witness an intensification of work with many sectors to spread awareness among authorities of the importance of information security to confront any cyber-attack that may occur.

Ahmed Abdullah — Director of Sales in Africa at RSA Archer — said that the aim of holding this conference is to focus on the financial sector in Egypt, as it discussed the new decisions and measures taken by the CBE concerning information security and cybersecurity to help banks secure their customers’ data and benefit from RSA Archer’s expertise in this field, which it offers locally and internationally.

He added that one of the most important programmes offered by RSA Archer is the risk programme, which helps information security officials in the financial sector to know the risks that institutions may face and how to overcome them and assist financial institutions and others in complying with all laws and regulations that are issued in relation to information security and cyber security from the concerned authorities.

Moreover, Abdullah pointed out that RSA Archer provides its services to all sectors — especially the financial, banking, petroleum, communications, and information technology sectors — explaining that the company seeks to cooperate with Egyptian universities to provide a training opportunity for students to create a new generation capable of working in the field of information security.

Nour El-Din Mahmoud —ITS Executive Officer — said that the world is currently witnessing serious cyber-attacks on all sectors, and that the conference helped spread awareness of the dangers of such attacks. This is to achieve ITS’ goal of developing a framework in cooperation with banks operating in the Egyptian market to help them secure their infrastructure and customer data.

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