CBE instructs banks to create banking products for special needs persons

Doaa A.Moneim , Thursday 30 Sep 2021

The Central Bank of Egypt (CBE) instructed banks on Thursday to create and provide banking products dedicated to individuals with special needs in line with the bank's strategy of financial inclusion that aims to provide the banking services for all classes of society.

CBE
Central Bank of Egypt (CBE) sign. Photo courtesy of State Information Service website.

According to the CBE directives, banks are expected to release banking cards with special designs featuring raised letters and numbers suited for these clients.

Special needs persons represent about 10.6 percent of Egypt’s total population of 102 million, according to the latest official statistics issued by the Central Agency for Public Mobilization and (CAPMAS).

The CBE instructed the banks to provide mechanisms for those clients to follow up their banking accounts and transactions including through SMSs, phone calls and screen reader services.

CBE also directed banks to accept the seal and thumbprints as signatures for all banking procedures, as well as providing required physical assistance in the banks’ branches for those clients.

Moreover, banks will be required to provide bank statements, notifications, and documents in both braille and sound-on-disc CDs.

Additionally, banks will be required to make available all information about the bank’s products and services on their websites and social media platforms combined with audio reading for visual impaired persons, and with sign language for hearing impaired persons.  

The CBE instructed banks to make structural changes in services to facilitate transactions for special needs' customers within 12 months. It instructed banks to designate at least 10 percent of personnel in each bank branch to service special needs' clients as well as making a minimum of 10 percent of all ATMs accessible to them.

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