The United Nations Capital Development Fund (UNCDF)-based “Better Than Cash Alliance” programme, comprising over 80 members from various organizations and governments, has highlighted Egypt’s efforts, represented by the Central Bank of Egypt (CBE), to promote the financial inclusion of Persons with Disabilities (PWDs). The Alliance published a blog titled “Egypt’s Pioneering Journey Towards Financial Inclusion of PWDs” on its website.
In pursuit of societal progress and inclusivity, the CBE has prioritized the financial inclusion of PWDs. This strategic focus aligns seamlessly with Egypt’s Vision 2030, a roadmap for comprehensive development and empowerment.
Over the past years, the CBE has demonstrated unwavering dedication by initiating and fostering innovations aimed at enhancing the financial inclusion landscape for PWDs. A pivotal milestone in this journey was the nationally representative demand-side survey conducted by the CBE. This survey provided crucial insights that underpinned the development of the Financial Inclusion Strategy launched in 2022. Central to this strategy is the aim of catering to all segments of society, particularly the most vulnerable, including PWDs, youth, women, and microenterprises.
The CBE’s proactive approach is evidenced by the establishment of regulations and the launch of various initiatives in collaboration with banks operating in the Egyptian market. These measures are designed to facilitate, enable, and simplify access to financial services, with special emphasis on marginalized groups, such as PWDs.
Among the notable efforts is the issuance of a dedicated regulation to facilitate accessibility to banking services and products for PWDs. This regulation mandates banks to ensure that their policies and systems embrace this segment within the customer categories, with disability types defined as per official documents.
Furthermore, the CBE’s instructions have prompted banks to implement tangible measures to enhance accessibility. This includes the establishment of “Digital Corners” equipped with a designated “Communication Unit” to serve customers in wheelchairs, along with video-call access to customer service representatives proficient in sign language. Additionally, banks are required to incorporate features such as “Chat Bots” on their websites and ensure “Screen Reader Compatibility” to facilitate access for visually impaired customers.
In line with these directives, banks have undertaken comprehensive training programmes, with over 9,300 employees receiving training in sign language and customer care for disabilities. Moreover, product designs have been tailored to meet the specific needs of PWDs, particularly in the case of credit and debit cards, which feature prominent letters and numbers for enhanced visibility.
To further enhance accessibility, account opening and application forms are now available in Braille for visually impaired customers, and call centres are equipped with mechanisms to assist these customers in monitoring their accounts and verifying transactions. Some banks have also issued different card types with Braille. Additionally, banks conduct home visits to PWDs, provide banking services at their convenience, and offer reduced fees and commissions to facilitate saving schemes.
Recognizing the importance of information dissemination, the CBE mandates that all bank information and brochures be accompanied by audio readings and sign language for visually and hearing-impaired customers. Moreover, banking transactions are documented using sound or images, ensuring accessibility and compliance with legal requirements.
The commitment to accessibility extends to physical infrastructure, with new branches required to comply with specified engineering codes to assist customers with disabilities. ATMs are equipped with features such as improved lighting, Braille keypads, wider-spaced numbers, and headphone compatibility for visually impaired customers, strategically placed in convenient and accessible areas.
Today, all banks operating in Egypt are equipped to serve PWDs, with many offering dedicated products and services. The collective efforts of the CBE and banks have significantly improved financial literacy and inclusion among PWDs.
The CBE marks Financial Inclusion Day for PWDs every December, in synchronization with the International Day of Persons with Disabilities. During this time, banks promote their products and facilitate opening accounts with no minimum balance and no fees.
Furthermore, the collaboration between the CBE, Egyptian state entities, ministries, and partners such as the Ministry of Social Solidarity and the National Council for Persons with Disabilities emphasizes the effort to enhance financial inclusion for all segments of society, in alignment with the Financial Inclusion Strategy (2022-2025). One key objective of this strategy is to expand the use of digital financial services as a cornerstone for enhancing financial accessibility across the nation. This objective aligns with Egypt’s broader goal of digital transformation, which aims to modernize the financial sector by leveraging technology to create more inclusive and efficient financial services. Through the promotion of digital payments, mobile banking, and other digital financial tools, the strategy seeks to make financial services more accessible, especially to underserved populations such as PWDs, women, and rural communities. These digital solutions not only offer greater convenience and security but also help bridge the gap between formal financial services and those traditionally excluded from the financial system.
