Egypt’s Central Bank To Launch ‘Know Your Customers’ Initiative
The Central Egypt, or CBE, will launch a project called ‘Know Your Customer,’ which will enable citizens to open bank accounts online without visiting their bank’s headquarters. With this project, citizens will be able to access all banking services in real time, even on official holidays. It is expected to be completed by the end […]
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The Central Egypt, or CBE, will launch a project called ‘Know Your Customer,’ which will enable citizens to open bank accounts online without visiting their bank’s headquarters.
With this project, citizens will be able to access all banking services in real time, even on official holidays. It is expected to be completed by the end of the year, the Sub-Governor of the CBE, Ehab Nasr, said.
By amending the laws governing the CBE, the digital transformation would be protected, since it included a section on payments that gives Egypt a general framework for developing its payment companies, Nasr stressed.
