Thursday June 13th, 2024
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You Can Now Open a Bank Account Without Paying Any Fees

But only until September 15th, through a new initiative by the Central Bank of Egypt.

Cairo Scene

You Can Now Open a Bank Account Without Paying Any Fees

The Central Bank of Egypt is offering free bank account openings for individuals across the country until September 15th, 2023.

The initiative coincides with the celebration of ‘Farmer's Day’ and aims to promote financial inclusion, empowering citizens by providing them with accessible and affordable banking services.

In an effort to simplify the account opening process, the Central Bank of Egypt has waived all charges, including the requirement for a minimum account balance. By removing administrative fees, the initiative aims to encourage individuals to take advantage of the benefits and security that come with having a bank account, allowing every citizen the opportunity to open a bank account without any financial barriers.

Individuals only need to provide a copy of their national identification card, eliminating the need for additional documentation.

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