Circular dated September 3, 2023 regarding facilitating the access of illiterate and elderly people to banking services and products

Dear Sir / Chairman of the Board of Directors,

Greetings,

With reference to the Circular Letter dated September 30, 2021, regarding instructions for facilitating access to banking services and products for persons with disabilities, which included certain criteria that banks must follow, and in light of the Central Bank of Egypt's interest in enhancing financial inclusion efforts and including all segments of society in the banking sector, and working to facilitate procedures for customers, especially illiterate persons and the elderly (65 years and older), as monitoring of the banking sector has revealed some challenges and difficulties faced by these categories when dealing with banks.

In light of the above, and in a keenness to remove obstacles and challenges that may face customers of the banking sector, it has been decided to apply the facilitations contained in the Circular Letter dated September 30, 2021 regarding instructions for facilitating access to banking services and products for persons with disabilities, to customers who are illiterate and the elderly (65 years and older), specifically the following items:

First, Item 3 regarding General Rules: Updating the bank's database system to reflect the category "Elderly," while ensuring the database system for illiterate customers is updated when their data is updated.

Second, Item 3 regarding Due Diligence Procedures: Accepting stamps and fingerprints as alternatives to signatures on all procedures, taking into account the due diligence procedures for bank customers issued by the Anti-Money Laundering and Combating the Financing of Terrorism Unit.

Third, Item 3 regarding The Principle of Fairness and Equity: Stipulating the possibility of the customer using an assistant from within the branch, as well as providing assistance in filling out forms and applications for these customers, to be done by two bank employees together, in addition to witnesses if the customer requests it.

Fourth, Item 5 regarding Disclosure and Transparency: Documenting banking transactions conducted by illiterate customers - after obtaining their consent - via audio or video for transactions conducted within the branch and directly, and making them available at any time and securing them.

Fifth, Item 5 regarding Infrastructure Readiness: It is preferred to provide single-window service at all branches to provide all services for the elderly and the possibility of cash withdrawals for them from within the branch without being bound by waiting, and providing separate waiting numbers distinct from regular customers.

Sixth, Item 9 regarding Infrastructure Readiness: The bank is allowed to conduct home visits for elderly persons by branch staff to provide banking services, with the necessity of setting controls and procedures for these visits. It is also possible to use its mobile electronic channels to reach them if the situation requires.

Please be kind enough to alert regarding compliance with the above, within a period not exceeding one month from its date.

And please accept our highest respect,,
Hassan Abdallah