A fully-integrated center for information security was established in order to pinpoint attempted piracy and cyber attacks, announced the Central Bank of Egypt (CBE).

The move came as part of the CBE’s efforts to take further precautionary measures to counter cyber attacks and beef up cyber security in the banks and the banking institutions, the CBE added in a statement Wednesday.

The newly-established center, which is the first of its kind in Egypt, will contribute to increasing the capability of the banking institutions in confronting cyber attacks, especially in light of the rapid growth of technology and its increasing use in providing financial services, said CBE Deputy Governor Gamal Negm.

The center represents a new leap in cyber security in the banking institutions, said Sub-Governor Cyber Security Sherif Hazem.

This came as part of an integrated strategy adopted by the WB in order to increase cyber security, he further said.

He, meanwhile, said that a first reference related to cyber security was prepared under the title of “strategic and regulatory framework for information security”.

The reference was prepared in cooperation with international companies specialized in cyber security, he said.

Source: State Information Service Egypt