Regulatory Alerts2022-04-27 | CBE15.1.15Added · Updated
CBE Regulation Book 15.1.15 - Customers Rights
The Central Bank of Egypt issues instructions to protect bank customers' rights, mandating that banks ensure fair treatment, transparency, and data confidentiality across all services and products. The regulation requires banks to establish dedicated customer rights protection units, implement standardized complaint resolution mechanisms with specific timelines, and provide clear disclosures regarding fees, interest rates, and contract terms. It further obligates financial institutions to educate customers on financial literacy, safeguard personal data, and assume full liability for damages arising from automated or electronic service failures, with a one-year compliance period granted for implementation.
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