The Central Bank of Egypt (CBE) reported that the Financial Action Task Force (FATF) has highlighted Egypt’s experience as an international best practice in the updated June 2025 Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures, referencing the country’s approach to expanding financial access while meeting anti-money laundering and counter-terrorist financing (AML/CFT) standards. The guidance spotlights CBE measures developed with the Egyptian AML/CFT unit, including simplified customer due diligence for individuals and micro-enterprises, streamlined account opening for youth aged 15 and over, craftsmen and freelancers using national IDs, and allowing banking agents to verify customer identities to extend service reach. It also points to tailored products for specific segments (including women, youth and persons with disabilities), digital financial inclusion initiatives such as e-wallets and prepaid cards, and the CBE’s licensing and registration frameworks for digital banks to expand access through digital channels. CBE Governor Hassan Abdalla linked the recognition to coordination across the CBE, the Egyptian AML/CFT unit and other state bodies, and indicated the CBE will continue to align its approach with international best practices.
Central Bank of Egypt 2025-10-14
Financial Action Task Force cites Central Bank of Egypt-led financial inclusion and AML/CFT measures as international best practice
The Central Bank of Egypt (CBE) has been recognized by the Financial Action Task Force (FATF) for its best practices in financial inclusion and AML/CFT measures. The updated June 2025 guidance highlights CBE's initiatives, including simplified due diligence, streamlined account opening, and digital financial inclusion efforts. CBE Governor Hassan Abdalla emphasized ongoing coordination with state bodies to maintain alignment with global standards.