DailynewsegyptDailynewsegyptDailynewsegypt July 7, 2025
  • Home
  • Business
    BusinessShow More
    Egypt, Poland discuss cooperation in agriculture, food industries
    Egypt, Poland discuss cooperation in agriculture, food industries
    July 6, 2025
    Egypt allocates EGP 1.5bn to accelerate automotive industry in FY2025
    Egypt allocates EGP 1.5bn to accelerate automotive industry in FY2025
    July 6, 2025
    CBE hosts regional training on stress testing for COMESA central banks
    CBE hosts regional training on stress testing for COMESA central banks
    July 6, 2025
    Egypt accelerates coastal protection projects amid rising climate threats
    Egypt accelerates coastal protection projects amid rising climate threats
    July 6, 2025
    Kouchouk urges greater BRICS role in tackling global debt crisis
    Kouchouk urges greater BRICS role in tackling global debt crisis
    July 6, 2025
  • Politics
    PoliticsShow More
    Deadly Israeli airstrikes pound Gaza as Doha talks raise hopes for ceasefire
    Deadly Israeli airstrikes pound Gaza as Doha talks raise hopes for ceasefire
    July 6, 2025
    Egypt's PM calls Israeli war on Gaza 'most dangerous crisis' at BRICS summit
    Egypt’s PM calls Israeli war on Gaza ‘most dangerous crisis’ at BRICS summit
    July 6, 2025
    Egyptian, Saudi foreign ministers discuss Gaza, Iran in phone call
    Egyptian, Saudi foreign ministers discuss Gaza, Iran in phone call
    July 6, 2025
    Venezuela vows to uphold sovereignty on 214th independence anniversary
    Venezuela vows to uphold sovereignty on 214th independence anniversary
    July 6, 2025
    Gaza ceasefire hopes rise amid intensifying Israeli strikes, mounting death toll
    Gaza ceasefire hopes rise amid intensifying Israeli strikes, mounting death toll
    July 6, 2025
  • Interviews
    InterviewsShow More
    From Al Mashroa X to The Seven Dogs: Karim Abdel Aziz charts new era for Egyptian film
    From Al Mashroa X to The Seven Dogs: Karim Abdel Aziz charts new era for Egyptian film
    July 1, 2025
    Rania Yehia
    When Egypt strikes chord in Rome: Rania Yehia and symphony of cultural diplomacy
    June 18, 2025
    Culture remains enduring constant at heart of resistance: Mohamed Salmawy
    Culture remains enduring constant at heart of resistance: Mohamed Salmawy
    June 11, 2025
    Iwan Stella
    Egypt poised to lead regional 5G expansion, eyes additional spectrum, SME inclusion: Ericsson
    June 10, 2025
    Jamal Soliman
    Art must be sincere to create lasting impact: Jamal Soliman
    May 7, 2025
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Font ResizerAa
DailynewsegyptDailynewsegypt
Font ResizerAa
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Search
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Follow US
Dailynewsegypt > Blog > Business > Central Bank of Egypt directs for simplified bank account opening procedures
Business

Central Bank of Egypt directs for simplified bank account opening procedures

Hossam Mounir
Last updated: March 25, 2021 9:26 am
Hossam Mounir
Share
2 Min Read
The Central Bank of Egypt (CBE) has said that portfolio investment flows directed to emerging markets (EMs) will witness a slow and uneven recovery in favour of regions with the strongest economic recovery.
The Central Bank of Egypt (CBE) has said that portfolio investment flows directed to emerging markets (EMs) will witness a slow and uneven recovery in favour of regions with the strongest economic recovery.
SHARE

The Central Bank of Egypt (CBE), in coordination with the Egyptian Money Laundering and Terrorist Financing Combating Unit, has issued guidelines to banks on the application of simplified procedures for opening accounts.

The move will ease citizen access to current or savings accounts, under an economic activity segment, whether they are employed or self-employed.

This comes in light of President Abdel Fattah Al-Sisi’s directives to enhance financial inclusion, and the Egyptian state’s interest in all segments of society. It also aims to continue the state’s move towards financial inclusion, and encouraging citizens to open bank accounts.

The instructions include that, in the event that the data on identity documents, such as work or address, differ from the data provided by the citizen in the account opening form, it is sufficient to provide alternative documentation.

This includes a membership card, a professional licence, a tax card, or a document from the General Authority for Insurance or the Labour Office to prove the job. It is also possible to submit a utility bill or a lease contract to prove the address.

In the case of micro-enterprises, accounts can be opened even if the facility does not have a commercial register or licence using an ownership contract.

It is noteworthy that the guidelines focus on simple workers who were not able to deal with banks before, by using modern and realistic verification methods such as social media pages.

To follow Daily News Egypt on WhatsApp press here

To follow Daily News Egypt on Telegram press here

Pioneers Holding boosts capital by EGP 3bn
Egypt celebrates World Investor Week through promoting financial literacy
Analysts see downward trend of Egypt’s NIR decelerating
39.3% increase in value of economic bodies’ production requirements in 2013/2014: CAPMAS
Future unemployment rates to be affected by FDI: ILO
TAGGED:bank accountCBECentral Bank of Egypt
Share This Article
Facebook Copy Link Print

You Might Also Like

Business

Important economic decisions in 2014/2015 economic plan

January 3, 2015
BusinessIn Focus

Businessmen and the state: A confusing relationship

November 22, 2015

UNHCR says allowed to part resume activities in Libya

August 21, 2015

Slowing FDI portends emerging markets volatility

September 5, 2012
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • home
  • Advertise with us
  • Developers
  • Subscribe with us
  • careers
  • Terms of service
  • Get In Touch
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?