Banque Misr has signed a cooperation protocol with the Ministry of Foreign Affairs, Emigration, and Egyptians Expatriate, alongside National Bank of Egypt, as part of the “Open Your Account in Egypt” initiative. Launched by the Central Bank of Egypt (CBE) in collaboration with the Ministry.
The initiative aims to simplify banking account opening procedures for Egyptians working abroad, in cooperation with Egyptian embassies and consulates in various countries.
It allows expatriates to open financial inclusion accounts by visiting Egyptian embassies and consulates, using only a valid national ID card or passport. Beneficiaries can access a suite of banking products and services tailored to their needs, including internet banking, secure and swift balance inquiries and financial transfers, and the purchase and redemption of certificates. This aims to enhance their integration into the Egyptian banking sector and provide a secure, reliable means to manage their funds and invest savings in Egypt.
Hisham Okasha, CEO of Banque Misr, stated that the bank’s participation in the initiative supports the efforts of the state and the Central Bank of Egypt to promote financial inclusion and connect Egyptians abroad with their homeland through flexible and accessible banking solutions. He affirmed that this step represents a qualitative leap in enabling expatriate Egyptians to utilise banking services without needing to be physically present in Egypt, facilitated by cooperation with Egyptian embassies and consulates worldwide.
Okasha noted that the initiative reflects Banque Misr’s commitment to offering innovative banking services that meet the aspirations of Egyptians abroad, providing them with effective tools for secure and reliable fund management and savings investment..
He added that the bank consistently strives to develop its products and services to align with the needs of all customer segments, focusing on strengthening trust in the Egyptian banking system and establishing sustainable communication channels with Egyptians globally.
Okasha stressed that integration with the state’s vision and strategy for digital transformation and sustainable development is a fundamental pillar in the bank’s future plans. Banque Misr continues its role as a leading national institution, committed to providing banking solutions that support economic growth and contribute to integrating all societal segments into the banking system, thereby consolidating financial stability and enhancing the Egyptian economy’s regional and international standing.
