The Central Bank of Egypt (CBE) has outlined a streamlined five-step process for Egyptians working abroad to open bank accounts at home under its new Open Your Account in Egypt Initiative. The initiative was launched in cooperation with Banque Misr and the National Bank of Egypt (NBE) as the government moves to allure more remittances through official banking channels. According to a CBE infographic released Sunday, Egyptians abroad can begin by reviewing the initiative's guidance documents on the websites of Banque Misr or NBE. They can then visit the nearest Egyptian embassy or consulate to complete account-opening forms, verify identification, sign the papers, and pay attestation fees. Once verified, consular officials will certify and dispatch the documents to Egypt through diplomatic channels for further verification by the ministry of foreign affairs. The ministry then authenticates the signatures and sends the documents to the designated bank, which completes the account setup within three days of receiving the files. Upon completion, customers receive their new account numbers via text message on the mobile number provided during registration. The initiative is part of Egypt's broader push to make financial services more accessible to its large expatriate community, simplify remittance inflows, and encourage Egyptians abroad to invest through official banking channels. Attribution: Amwal Al Ghad English Download
