Regulatory Alerts2021-08-02
Circular dated July 29, 2021 regarding financial inclusion activities
In an effort to reach more citizens and include all segments of society in the formal financial system, the Egyptian Central Bank has decided to increase the number of financial inclusion events throughout the year. These events will take place in September, coinciding with the country's celebration of Farmers' Day, and in December, coinciding with the International Day of Persons with Disabilities. The proposed activities during these events include allowing banks to set up booths outside their branches to offer appropriate banking products to customers, waiving account opening fees for new customers, issuing prepaid cards, encouraging the use of e-wallets, providing financial education, and conducting promotional campaigns through social media and other electronic means.