CBE, Foreign Affairs Ministry launch Open Your Account in Egypt initiative
Updated 10/27/2025 9:26:00 AM
Arab Finance: The Central Bank of Egypt (CBE) and the Ministry of Foreign Affairs, Immigration, and Egyptian Expatriates Affairs have launched the "Open Your Account in Egypt" initiative, in collaboration with the National Bank of Egypt (NBE) and Banque Misr, to simplify the process of opening bank accounts for Egyptians living abroad, as per a statement.
The initiative enables Egyptians working abroad to open accounts with the NBE or Banque Misr by visiting the nearest Egyptian embassy or consulate.
After completing and signing the required forms, the documents are authenticated by the diplomatic mission and sent to the Ministry of Foreign Affairs, which coordinates with the relevant banks to finalize the procedures.
In his remarks, the Governor of the CBE Hassan Abdalla said the initiative aims to encourage Egyptians abroad to channel their remittances through local banks and invest their savings domestically.
He added that the banking sector continues to expand access to financial services while lowering remittance costs to the minimum possible level.
He also highlighted ongoing coordination with the Ministry of Foreign Affairs to introduce additional initiatives for expatriates, including instant 24-hour remittances and the enhancement of digital banking services.
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