The Central Bank of Egypt (CBE) and the Ministry of Foreign Affairs have launched the “Update Your KYC in Egypt” initiative, enabling Egyptians working abroad to update their banking information without travelling to Egypt.
The initiative is being implemented 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 the Federation of Egyptian Banks (FEB), as part of broader efforts to enhance banking services for Egyptians abroad and strengthen their connection with the homeland.
A cooperation protocol was signed between the Ministry of Foreign Affairs, NBE and Banque Misr in the presence of Tarek ElKholy, Deputy Governor of the CBE for Banking Stability. The agreement was signed by Ambassador Nabil Habashi, Deputy Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates; Mohamed El-Etreby, Chief Executive Officer of NBE; and Hisham Okasha, Chief Executive Officer of Banque Misr.
The signing took place on the sidelines of the seventh annual Conference for Egyptians Abroad, held under the theme “No Matter How Far We Are, Egypt Brings Us Closer.”
Under the initiative, Egyptians working abroad can update their banking records with NBE or Banque Misr by visiting the nearest Egyptian embassy or consulate in their country of residence to complete and sign a customer data update form. The diplomatic mission will verify the documents and forward them to the ministry of foreign affairs to complete the authentication procedures before sending them to the customer’s bank to finalise the Know Your Customer (KYC) update.
CBE Governor Hassan Abdalla said the initiative reflects the central bank’s commitment to improving banking services for Egyptians abroad by providing more efficient and flexible solutions, supporting the state’s financial inclusion strategy and strengthening ties with the Egyptian diaspora.
He added that the initiative builds on the success of the recently launched “Open Your Account in Egypt” programme, which was also implemented in cooperation with the Ministry of Foreign Affairs. Abdalla said the new service represents another step towards improving the banking experience for Egyptians abroad while simplifying customer data updates in line with regulatory requirements, due diligence standards and international banking best practices.
For his part, Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates Badr Abdelatty said the protocol with NBE and Banque Misr responds directly to repeated requests from Egyptians abroad by allowing diplomatic missions and consulates to verify signatures on banking data update forms.
He noted that the initiative implements one of the key recommendations issued during the sixth annual Conference for Egyptians Abroad, held in August 2025, and complements a broader package of programmes developed by the ministry in cooperation with government entities to improve services for Egyptian expatriates in line with presidential directives.
Abdelatty added that discussions during this year’s conference are focused on additional proposals and practical initiatives aimed at meeting the aspirations of Egyptians abroad and strengthening their links with Egypt.
The minister also expressed appreciation to the CBE, the Egyptian Money Laundering and Terrorist Financing Combatting Unit, NBE and Banque Misr for their cooperation in implementing the initiative. He said the new service will facilitate financial transactions for Egyptians abroad and encourage greater inflows of foreign currency savings into Egypt.
