Central Bank of Egypt and Ministry of Foreign Affairs Launch “Update Your KYC in Egypt” Initiative for Egyptians Working Abroad in Cooperation with the National Bank of Egypt and Banque Misr
As part of Egypt’s steadfast efforts to strengthen engagement with Egyptians abroad, enhance the services provided to them, and facilitate their access to banking services, the Central Bank of Egypt (CBE) and the Ministry of Foreign Affairs, International Cooperation, and Egyptian Expatriates launched the “Update Your KYC in Egypt” initiative. The implementation is carried out in partnership with the National Bank of Egypt (NBE) and Banque Misr, in coordination with the Egyptian Money Laundering and Terrorist Financing Combatting Unit (EMLCU), and in collaboration with the Federation of Egyptian Banks (FEB).
In this regard, a joint cooperation protocol was signed between the Ministry of Foreign Affairs, International Cooperation, and Egyptian Expatriates, NBE, and Banque Misr, in the presence of Mr. Tarek ElKholy, CBE’s Deputy Governor for Banking Stability. The protocol was signed by Ambassador Nabil Habashi, Deputy Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates; Mr. Mohamed El-Etreby, Chief Executive Officer of NBE; and Mr. Hisham Okasha, Chief Executive Officer of Banque Misr.
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The signing ceremony took place on the sidelines of the 7th Edition of the Egyptians Abroad Conference, held today under the theme “No Matter How Far We Are, Egypt Brings Us Closer.” The initiative enables Egyptians working abroad to update their banking data with NBE or Banque Misr without the need to travel to Egypt. Instead, they can visit the nearest Egyptian diplomatic mission or consulate in their country of residence to complete and sign the data update form. The mission or consulate will verify the form and forward it to the Ministry of Foreign Affairs to complete the verification procedures, before submitting it to their respective bank to finalize the customer’s data update process.
On this occasion, H.E. Mr. Hassan Abdalla, Governor of the CBE, emphasized that launching the initiative underscores the commitment of the CBE and the banking sector to advance banking services provided to Egyptians abroad, and streamline their access through more efficient and flexible solutions. This reinforces the State’s efforts to promote financial inclusion and strengthen ties with Egyptians abroad.
Mr. Abdalla further noted that the initiative builds on the success of the recently launched “Open Your Account in Egypt” initiative, implemented in coordination with the Ministry of Foreign Affairs, International Cooperation, and Egyptian Expatriates. It reflects an integrated approach to enhancing the banking customer experience for Egyptians working abroad, and represents a strategic step towards simplifying customer data update processes, while ensuring compliance with regulatory requirements, due diligence measures, and international banking best practices.
For his part, Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates, stated that the signing of the cooperation protocol with NBE and Banque Misr aims to facilitate the update of banking data for Egyptians abroad by verifying citizens’ signatures on the data update form at diplomatic missions or consulates abroad. This directly addresses repeated requests from Egyptians abroad and implements the recommendations of the 6th Edition of the Egyptians Abroad Conference, organized by the Ministry of Foreign Affairs in August 2025.
Dr. Abdelatty added that this initiative complements a range of other programs led by the Ministry for Egyptian expats, developed in collaboration with various ministries and national institutions, to deliver the highest standard of care and support for Egyptians abroad, in line with the presidential directives in this regard. He further noted that the current 7th Edition of the Egyptians Abroad Conference is exploring additional proposals and actionable ideas aimed at fulfilling the aspirations of Egyptians abroad and deepening their connection to the homeland.
The Minister expressed his appreciation to the CBE, the relevant authorities concerned with ensuring the safety of financial transfers in Egypt, as well as NBE and Banque Misr for their responsiveness and cooperation in executing this initiative. He underlined that the initiative serves the interests of Egyptians abroad, streamlines their financial transactions within Egypt, and encourages the transfer of their foreign currency savings into the country.
