The FATF’s Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures highlights Egypt’s success in balancing access to financial services with strict compliance with anti-money laundering and counter-terrorist financing (AML/CFT) standards.
The recognition places Egypt among a select group of countries whose regulatory frameworks are seen as exemplary in advancing equitable and secure access to financial services.
Established in 1989, the FATF serves as the global watchdog for money laundering and terrorist financing, setting international standards to protect the integrity of financial systems and prevent the harm caused by illicit financial flows.
Headquartered in Paris, the body comprises 40 member jurisdictions and works to ensure that national authorities can detect, prevent, and respond to financial crimes linked to offences such as drug and weapons trafficking, fraud, corruption, and the financing of terrorism and proliferation.
Through its recommendations and mutual evaluation processes, the FATF promotes a risk-based approach to regulation, encouraging jurisdictions to tailor their AML/CFT frameworks to local contexts while maintaining global consistency.
It also monitors high-risk jurisdictions and offers technical assistance and policy guidance to support reform.
In recent years, the FATF has focused increasingly on the intersection of financial inclusion and AML/CFT compliance, recognizing that well-designed regulatory frameworks can expand access to financial services while safeguarding against abuse.
Its work in this area reflects a broader commitment to ensuring that financial integrity and inclusive development go hand in hand.
CBE-led reforms drive recognition
The report commended Egypt’s efforts, spearheaded by the CBE in collaboration with the Egyptian AML/CFT unit, for building a cohesive regulatory system that promotes financial inclusion while safeguarding financial integrity.
Key reforms include simplified customer due diligence for individuals and micro-enterprises, streamlined account-opening procedures for youth, freelancers, and artisans using national IDs, and the use of banking agents to verify customer identities.
The CBE has also developed tailored financial products for women, youth, and persons with disabilities, and expanded digital financial services through e-wallets, prepaid cards, and a licensing framework for digital banks. These measures have extended financial access to underserved and remote communities.
Recognition reflects strategic vision
Commenting on the recognition, CBE Governor Hassan Abdalla said it reaffirms Egypt’s commitment to a national strategy that balances financial system integrity with inclusive access.
“This milestone reflects the substantial progress achieved through the collaborative efforts of the CBE, the Egyptian AML/CFT unit, and other state bodies,” Abdalla said, adding that the bank will continue to align with global best practices to foster inclusive economic growth.
The FATF also acknowledged Egypt’s efforts to support SMEs by strengthening the Credit Risk Guarantee Company and enhancing the role of the Egyptian Credit Bureau (I-Score), helping to streamline access to finance for small businesses.
The FATF’s guidance was developed in consultation with international stakeholders, including Egypt’s CBE and AML/CFT unit, underscoring the country’s leadership in shaping global standards. Egypt’s inclusion in the report is expected to bolster its position in global financial policy circles and encourage other countries to adopt proportionate, risk-based approaches to financial inclusion.
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