CBE eases banking access for illiterate, elderly

The Central Bank of Egypt (CBE) introduced new facilities on Tuesday to help illiterate and elderly customers (65+ years) to access banking services and products.

This is part of CBE’s plan to remove obstacles that the banking sector customers may face, the statement mentioned.

CBE instructed banks to update their databases to include the elderly and the illiterate customers when their data is updated.

Banks will also accept stamps and fingerprints instead of signatures for all banking procedures for this category of customers.

CBE instructed banks to provide an assistant within their branches, to help them fill out forms and applications. This also includes documenting transactions in audio or video.

There will also be a one-stop-shop service in all branches to offer all services to the elderly.

The Central Bank also allows banks to conduct home visits for the elderly to provide banking services.