Arab Finance: The Central Bank of Egypt (CBE) has instructed banks operating in the Egyptian market to submit comprehensive financial literacy action plans for 2027 during the fourth quarter (Q4) of 2026.

Under a new CBE circular on promoting financial literacy and banking awareness, banks must prepare annual plans containing measurable activities, defined outcomes, and mechanisms for assessing their impact and effectiveness. They must also submit quarterly reports detailing the activities implemented.

The plans and periodic reports must be submitted to the CBE’s Financial Inclusion Sector using the specified templates.

The CBE directed banks to place responsibility for implementing financial literacy programs and coordinating among relevant departments within their independent financial inclusion departments.

The latest requirements expand the executive framework introduced through earlier CBE directives. In February 2019, the CBE required banks to promote financial literacy and awareness under regulations protecting bank customers’ rights.

In March 2020, the CBE instructed banks to establish independent financial inclusion departments and prepare annual strategies and action plans that include the promotion of financial literacy.

The new framework places greater emphasis on measurable activities, defined outcomes, impact assessment, and regular monitoring through quarterly reporting.

Banks must develop programs and content that strengthen financial knowledge and skills, encourage sound financial practices, and keep customers informed about developments in financial products, services, and digital transformation. The programs must also reinforce data protection principles.

The instructions require banks to raise awareness among individuals and business owners about the benefits and importance of payment cards, digital payment methods, electronic payment channels, and electronic transfers.

Banks must also provide non-financial and advisory services to entrepreneurs and owners of micro, small, and medium-sized enterprises (MSMEs).

The CBE directed banks to expand partnerships with universities, government bodies, and financial institutions and use multiple channels to reach different target groups, including the most vulnerable segments of society.

Educational materials must be made available in suitable formats, including sign language and Braille, to improve their accessibility.

Banks are also required to expand interactive financial literacy initiatives, including educational simulations and gamification, and use websites, social media platforms, and mobile applications to deliver financial information.

The framework calls for awareness campaigns addressing fraud risks and evolving fraudulent methods. Banks must also regularly train employees to provide customers with appropriate information and guidance, apply responsible sales standards, and strengthen their ability to identify and prevent fraud attempts.

When marketing financial products and services, banks must clearly explain their features, benefits, and usage. The CBE emphasized that promoting products and services must not serve as a substitute for dedicated financial literacy programs.