The Financial Action Task Force (FATF) has recognised Egypt’s pioneering experience—led by the Central Bank of Egypt (CBE)—as an international best practice in promoting financial inclusion while ensuring compliance with anti-money laundering and counter-terrorist financing (AML/CFT) standards.
Egypt’s experience was featured in FATF’s updated “Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures,” issued in June 2025. The document highlights Egypt’s success in achieving a balanced approach that expands access to financial services while maintaining the integrity and stability of its financial system.
Established in 1989 and headquartered in Paris, FATF is a 40-member intergovernmental body that sets global standards to combat money laundering, terrorist financing, and the financing of weapons proliferation. Its mission is to help national authorities prevent illicit financial flows linked to serious crimes such as drug and arms trafficking, corruption, fraud, and cyber-enabled financial offences.
The FATF report commended Egypt’s efforts—spearheaded by the CBE in coordination with the Egyptian AML/CFT Unit—to build a cohesive and robust regulatory framework that ensures secure and equitable access to financial services. Through its comprehensive supervisory and regulatory mandates, the CBE has developed measures that promote inclusion without compromising compliance, contributing to the economic empowerment of all segments of society.
Commenting on this international recognition, CBE Governor Hassan Abdalla said the milestone reaffirms Egypt’s national strategic vision, which seeks to strike a balance between protecting the financial system and empowering citizens to access formal financial services. He noted that this achievement reflects the collaborative efforts of the CBE’s departments, the Egyptian AML/CFT Unit, and other state institutions, consolidating Egypt’s leadership in this domain.
Abdalla further stressed that the CBE will continue to strengthen this integrated approach, aligning with international best practices to foster sustainable economic growth and position financial inclusion as a cornerstone of inclusive development.
FATF’s Guidance spotlighted key regulatory measures adopted by the CBE to advance financial inclusion in coordination with the Egyptian AML/CFT Unit. These include simplified customer due diligence (CDD) procedures for individuals and micro-enterprises; enabling account opening for youth aged 15 and above, craftsmen, and freelancers using only national IDs; and authorising banking agents to verify customer identities to expand service reach.
The CBE has also developed tailored financial products for various segments of society—such as women, youth, and persons with disabilities—and enhanced digital financial inclusion by upgrading financial infrastructure, promoting the use of e-wallets and prepaid cards, and issuing regulatory frameworks for digital banks to provide services via digital platforms. These efforts have significantly extended access to financial services, particularly in remote areas.
Additionally, the CBE has strengthened the role of the Egyptian Credit Bureau (I-Score) and the Credit Risk Guarantee Company to facilitate financing for Small and Medium-sized Enterprises (SMEs), reinforcing their contribution to economic growth and job creation.
The updated FATF Guidance was developed in consultation with a wide range of international stakeholders, including the CBE and the Egyptian AML/CFT Unit. This collaboration underscores Egypt’s leadership in advancing proportionate, risk-based frameworks that promote financial inclusion while upholding global AML/CFT standards.
