Today, September 5th, witnessed the introduction of new tools by the Central Bank of Egypt (CBE) to facilitate access to banking services and goods for 65+-year-old and illiterate clients.
According to the bank’s statement, this is a part of CBE’s strategy to remove potential barriers among clients in the banking sector.
When their data is updated, CBE instructs banks to update their databases to include the elderly and illiterate clients.
For this group of customers, Egyptian banks will also accept stamps and fingerprints in place of signatures for all financial procedures.
In a promising attempt to help customers fill out paperwork and applications, CBE also urged banks to staff their branches with an assistant to help them through the process. The recording of transactions in audio or video is included in that service too.
Moreover, CBE permits banks to visit senior citizens at home to provide banking services; in addition, all branches are set to have a one-stop-shop service that will offer old customers all the services they need.
