CBE expands banking reach with new service unit regulations

The Central Bank of Egypt (CBE) has issued new regulations permitting banks to establish service units outside their traditional branches, in a move designed to expand geographical coverage and guarantee broader access to financial services across all governorates.

The measure comes within the framework of Egypt’s Vision 2030, which seeks to promote economic empowerment and enhance financial inclusion nationwide. According to a statement from the CBE, the regulations aim to improve access to banking for individuals and micro, small, and medium-sized enterprises (MSMEs), while raising financial literacy in areas that remain underserved by the sector.

These service units will provide a wide array of offerings, ranging from account openings, customer data updates, loan processing, card issuance and delivery, to money transfers and digital banking services. They will also include ATM facilities for withdrawals and deposits, as well as advisory and literacy programmes for individuals, entrepreneurs, and MSMEs, alongside mechanisms for handling customer complaints.

The regulations define three categories of service units. Mobile units will operate through buses or vehicles equipped with banking tools. Fixed units will serve as low-cost outlets in locations such as youth centres, agricultural associations, or retail spaces. Temporary units will primarily be deployed to promote financial literacy, increase awareness of banking services, provide advisory support, and deliver limited banking services.