Egyptian youth financial inclusion grows to 51.7% in June – CBE

Financial inclusion among Egyptian youth aged 16 to 35 has reached a new high. The rate rose to 51.7 per cent in June 2024, up from 51.5 per cent in December 2023. This represents an increase of 19.2 million young people, bringing the total number of financially included youth to 37.1 million.

The Central Bank of Egypt‘s (CBE) recent regulations have played a crucial role in driving this growth. By allowing 16-year-olds to open bank accounts and simplifying the process for artisans through “Economic Activity Accounts” and “Financial Inclusion Accounts for Citizens,” the CBE has made it easier for young people to access financial services.

Attribution: CBE FI Report

Subediting: Y.Yasser