Central Bank of Egypt Lowers Age to Independently Open Accounts to 15

The Central Bank of Egypt has issued new guidelines permitting citizens as young as 15 to open bank accounts without requiring the consent of a guardian. Previously, the minimum age was set at 16. This adjustment aligns with a recent decision from the Ministry of Interior, which lowered the age for obtaining a national ID card to 15.

Banks are instructed to tailor banking products for this age group, considering both the legal limitations and risk factors relevant to younger account holders. They are also required to adhere strictly to all regulatory standards associated with youth banking.

The policy aims to promote financial inclusion among Egypt’s youth, encouraging financial literacy and early access to banking services in a controlled, risk-managed environment.