Some of the most widespread banks announced the start of free opening of savings accounts for customers, exempting them from administrative fees, and without a maximum limit for opening the account as well for new customers, and this decision starts from Thursday for a period of two weeks.
This step comes within the central bank’s announced initiative for financial inclusion and the inclusion of the largest possible number of clients within the banking system to facilitate the completion of financial transactions. This initiative includes services provided by banks to clients free of charge within the activities of financial inclusion such as issuing direct and prepaid debit cards without fees, and opening accounts Saving for new customers for free with no minimum, and issuing e-wallets for free.
Several banks have announced participating in the Savings Day initiative in support of financial inclusion, and these banks are:
- National Bank of Egypt.
- Egypt Bank.
- Cairo Bank.
- Egyptian Agricultural Bank.
- Qatar National Bank Al Ahli.
- The United Bank Bank.
There are also other banks preparing to officially announce their participation in the initiative, including the Commercial International Bank, the Arab African International Bank, Bank Audi Egypt, the Arab International Banking Corporation and other banks.
It is worth noting that the Central Bank had decided to set four events to support financial inclusion annually, and to motivate banks to open accounts for new clients with facilities and exemptions from administrative expenses, and these activities include the celebration of Women’s Day in March, the Arab Day for Financial Inclusion in April, and the celebration International Youth Day in August, and Savings Day in October which actually starts on October 15th and lasts for two weeks.
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