Egypt’s central bank approves banking agents to expand financial inclusion

Egypt’s central bank approved new rules on Tuesday allowing banks to use authorised banking agents to provide selected services on their behalf, including customer identification, as part of efforts to expand financial inclusion and reach underserved areas.

The rules are designed to extend banking services to remote areas and locations without bank branches, enable customers to open accounts, update their personal information, and submit applications for certain banking services through banking agents, the Central Bank of Egypt (CBE) said in a statement.

The framework sets out the regulatory and supervisory requirements for agent banking, including minimum standards and controls that banks must follow when providing services through contracted agents.

It also sets out the requirements for obtaining CBE’s approval to conduct agent banking activities and for the accreditation of banking agents.

The central bank said the rules would help make banking services more accessible while protecting customers’ rights and maintaining the confidentiality of their data.

The move forms part of the CBE’s financial inclusion strategy, which identifies expanding access to banking services as one of its key pillars.

Egypt’s financial inclusion rate reached 79 per cent in June 2026, representing growth of 229 per cent compared with 2016, the CBE said, attributing the progress to a series of initiatives and regulatory measures aimed at expanding access to formal financial services.

The new rules are intended to build on those efforts by enabling more people to access banking services, particularly in areas with limited banking infrastructure.