Egypt’s Central Bank Approves New Rules for Banking Agents to Expand Financial Access
The Central Bank of Egypt (CBE) has approved a new regulatory framework allowing banks to appoint authorized agents to provide selected banking services on their behalf, in a move aimed at expanding financial inclusion and improving access to banking services across the country.
Under the new rules, customers will be able to access services such as account-opening procedures, updating personal information, customer identity verification, and submitting applications for certain banking products through authorized agents.
Which Entities Can Become Banking Agents?
The framework allows banks to work with eligible financial institutions, non-bank financial institutions regulated by the Financial Regulatory Authority (FRA), government entities, and other approved organizations, subject to the applicable regulatory requirements.
The framework establishes eligibility criteria and regulatory requirements to ensure that appointed agents operate within the scope of services approved by the CBE.
Regulatory Standards and Customer Protection
The CBE's rules establish operational and supervisory standards for banking agents, including approval requirements, customer protection measures, and safeguards for the confidentiality of personal data.
Banks will remain responsible for overseeing the services provided by their agents and ensuring compliance with the applicable regulatory requirements.
Supporting Financial Inclusion Across Egypt
The new framework is designed to extend banking services to underserved communities, particularly in remote areas with limited access to traditional bank branches.
By enabling banks to rely on authorized agents, the regulatory framework could help expand banking service networks, improve accessibility, and provide customers with more convenient ways to access selected financial services.
The move builds on Egypt's broader financial inclusion efforts, with the financial inclusion rate reaching 79% in June 2026, representing a 229% increase compared to 2016.
Expanding Opportunities Across Egypt's Banking Sector
The introduction of banking agent regulations is expected to create additional opportunities for financial service providers, particularly institutions operating in digital financial services and customer verification solutions.
The framework also supports banks in expanding their reach through alternative service channels, contributing to the development of Egypt's banking sector and the wider financial inclusion ecosystem.