Regulatory Alerts2022-03-29 | CBE5.13Added · Updated
CBE Regulation Book 5.13 - Regulatory Instructions For Dormant Accounts
The Central Bank of Egypt establishes definitions for dormant accounts, distinguishing between general accounts (inactive for two years) and simplified customer accounts (inactive for one year). Banks are required to notify customers of dormant status, allow reactivation via various channels, and protect customer rights during the dormant period. The regulations mandate supervisory monitoring and apply to all banking institutions, with an effective date of July 27, 2021.