2021-09-30

Circular Regarding Accounts Related to Guardianship of Money

The Central Bank of Egypt, in pursuit of financial inclusion and customer protection, has issued directives to facilitate financial and banking transactions for individuals, particularly minors and those under guardianship. These directives address difficulties faced by guardians in managing minors' accounts, such as obtaining bank statements and disbursing funds like monthly allowances or pensions. The circular permits guardians to disburse allowances or pensions upon a court order, open accounts in the ward's name with bank approval, and obtain ward's bank statements upon judicial permission.

Egypt

Central Bank of Egypt

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