You Can Soon Open a Bank Account Online in Egypt
Customers will be able to verify their identities, accept bank terms and update personal data online without visiting a branch.
New regulations issued by the Central Bank of Egypt will allow customers to open bank accounts and access banking products remotely without visiting a branch, using electronic identity verification through the country’s Digital Financial Identity system.
Approved by the central bank’s board on August 23rd, 2026, the framework sets out how banks can identify and onboard customers digitally through electronic Know Your Customer procedures.
Under the rules, customers will be able to accept banking terms and conditions electronically, use digital authentication instead of handwritten signatures and update their personal information online.
The framework also establishes governance requirements for participating institutions and sets technical and operational standards for the platform, including cybersecurity and data protection controls.
The Digital Financial Identity system, also known as eKYC, had previously been presented by the central bank as part of its wider digital transformation strategy, alongside services including InstaPay and tokenisation technologies.
