Egypt launches KYC update service for citizens abroad
Egypt has launched a new initiative on Sunday allowing citizens living abroad to update their banking information through Egyptian embassies and consulates, eliminating the need to return home to complete Know Your Customer (KYC) procedures.
The initiative was launched jointly by the Central Bank of Egypt (CBE), the Ministry of Foreign Affairs, International Cooperation, and Egyptian Expatriates, in cooperation with the National Bank of Egypt (NBE) and Banque Misr.
Under the programme, Egyptians abroad can submit KYC update requests through the nearest Egyptian embassy or consulate, where diplomatic missions will verify customers’ signatures before forwarding the documents through the foreign ministry to the relevant bank to complete the process.
The initiative is being implemented in coordination with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) and the Federation of Egyptian Banks to ensure compliance with regulatory and anti-money laundering requirements.
Central Bank Governor Hassan Abdalla said the initiative forms part of broader efforts to improve banking services for Egyptians abroad through more flexible and efficient solutions while supporting financial inclusion.
He said the programme builds on the Open Your Account in Egypt Initiative launched earlier and simplifies customer data updates while maintaining compliance with regulatory requirements and international banking standards.
Foreign Minister Badr Abdel-Atty said the initiative responded to repeated requests from Egyptians living abroad and implemented recommendations made during the sixth Egyptians Abroad Conference in 2025.
He said the programme would make it easier for Egyptians overseas to manage their banking affairs and conduct financial transactions in Egypt without the need to travel home solely to update their banking records.
The initiative was launched during the seventh Egyptians Abroad Conference, held under the theme “No Matter How Far We Are, Egypt Brings Us Closer.”
Attribution: Amwal Al Ghad English