Starting this week, banks issue savings accounts without expenses b

12:14 PM

Saturday 31 July 2021

I wrote – Manal Al-Masry:

Banks start issuing savings accounts to customers without calculating any administrative expenses or a minimum for opening the account, as well as issuing direct debit cards starting from this week and throughout the month of August to celebrate the International Youth Day to spread financial inclusion, which is the third event throughout the year in the Central Bank’s inclusion initiative financial.

The Central Bank directed banks 5 years ago to promote every year 4 activities in the financial inclusion initiative, i.e. opening a bank account for every citizen who does not deal with the banking system without calculating any administrative expenses as well as direct debit cards without expenses to instill a culture of savings in society, especially the youth segment.

The Central Bank set 4 specific months of each year for banks to start opening a bank account for each new citizen in the financial inclusion initiative, which includes the celebration of the International Women’s Month in March of each year, the Arab Financial Inclusion Day in April, the International Youth Day in August, and the International Youth Day in August. Global savings in october.

There are many banks participating in the initiative to open a bank account for every citizen, led by the National Bank, Egypt, Agricultural Egyptian, Cairo, Commercial International, Arab African International and other banks.

Banks allocate some events and channels to promote the Central Bank’s initiative, a bank account for every citizen who does not deal with banks without administrative expenses and a minimum to open the account on their official websites on Facebook, or on the electronic portal, and clubs, as well as allocating buses that roam cities and governorates to inform citizens of the benefits of the initiative.

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Any customer can open a savings account with the image of his national number only without submitting any other papers in accordance with the central decision to allow flexibility in attracting small customers, to start enjoying all the bank’s services from free subscription to smart wallets, the Internet, mobile banking, and prepaid cards (an advantage) or others.

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