The Central Bank of Egypt (CBE) issued clear instructions for banks to allow mothers to open bank and savings accounts for their minor children.
This move comes within the framework of the CBE’s efforts to facilitate banking transactions for women and promote financial inclusion in the society, through achieving gender equity in benefiting from banking services, the bank said in a statement on Sunday.
The CBE added it continuously works to remove all difficulties that could prevent women from getting access to all types of banking services, by conducting periodic detailed studies and field surveys on male and female bank customers, in coordination with the relevant authorities.
The CBE underlined it will proceed with its endeavors to achieve financial inclusion and support the economic empowerment of women, in line with the national sustainable development agenda (Egypt Vision 2030) that targets attaining gender equity in benefiting from banking services and increasing women’s contribution to the GDP.
Source: State Information Service Egypt