Banks to Open Free Accounts With Just a National ID Through March
Customers can sign up using only their national ID, and will receive direct and prepaid debit cards at no cost.
Banks across Egypt have begun opening accounts for customers free of charge through March. Customers can sign up using only their national ID, and will receive direct and prepaid debit cards at no cost. This move is part of efforts to expand financial access, coinciding with International Women’s Day and Mother’s Day celebrations on March 21st.
Since 2019, the Central Bank of Egypt has marked International Women’s Day with an annual event aimed at increasing women’s financial literacy and encouraging them to use banking services.
During this period, banks extend their reach beyond branches, offering free account openings in public spaces. Women can also open accounts for their minor children without restrictions, as part of their efforts to make financial services more inclusive.
Beyond individual banking, policies allow entrepreneurs - especially women running small businesses - to open accounts with just their national ID. Other initiatives include digital savings groups, economic empowerment programs, and partnerships with international institutions to improve financial access. By December 2023, financial inclusion among women in Egypt had grown to 62.7%, with over 20.3 million women holding bank accounts.
