On the occasion of International Youth Day, all major banks in the Egyptian banking sector will be opening accounts for free and without a minimum limit, starting today, Tuesday, and until August 15.
In a recent statement, the Central Bank stressed the need to open accounts for new customers without fees or a minimum, and to issue prepaid or debit cards to customers and encourage them to activate and use them in purchase transactions.
The CBE also identified a set of proposed activities that can be implemented during financial inclusion events, including allowing banks to be present outside their branches and displaying appropriate banking products, provided that the banking affairs sector of the Central Bank is informed of the whereabouts.
The list of financial inclusion activities that banks celebrate each year includes the women’s celebration from March 8 to 31, coinciding with International Women’s Day; the Arab Financial Inclusion Day from April 1 to 30; the youth celebration from August 1 to August 15 on the occasion of International Youth Day; the farmer’s celebration from August 1 to 15; and a celebration of savings from October 15 to 31 on the occasion of World Financial Week and the International Day of Savings, and a celebration of people of determination from December 1 to 15 on the occasion of the International Day of People of Determination.
