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The Board of Directors of the Central Bank of Egypt approved rules allowing banks to engage banking agents to provide services on their behalf. These include verifying customers’ identities, assisting with opening accounts and updating information, and submitting applications for banking services. The rules aim to expand access to services, particularly in remote areas without bank branches, while establishing supervisory controls to protect customers’ rights and the confidentiality of their data. Banks must obtain the Central Bank’s approval to conduct this activity. The bank noted that the financial inclusion rate reached 79% in June 2026, an increase of 229% compared with 2016.
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