The Central Bank of Egypt (CBE) has approved rules allowing banks to use banking agents to provide selected services, including customer identification, account opening and information updates.
The framework is designed to expand access to formal financial services, particularly in remote areas and communities without bank branches. Customers will also be able to submit applications for certain banking services through agents’ branches.
The rules establish regulatory and supervisory requirements for banking agency activities, including minimum standards that banks must follow when working with contracted agents. They also set out the process for obtaining CBE approval for banking agency activities and approving individual agents.
According to the CBE, the framework supports its financial inclusion strategy while protecting customer rights and maintaining data confidentiality. The central bank reported that Egypt’s financial inclusion rate reached 79% in June 2026, up 229% from 2016.
The contribution of banking agents to expanding access, especially in areas without bank branches, will be an important measure of the framework’s impact.
Source: Waya
