This includes the opening of 664,000 bank accounts, activation of 196,000 mobile wallets, and issuance of 530,000 prepaid cards—marking significant progress in integrating women into the financial system.
As part of its continued efforts to boost financial inclusion for women and encourage them to use formal financial services, the Central Bank of Egypt (CBE) has launched its annual Women’s Financial Inclusion campaign, which runs every year from March 8 until the end of the month, in celebration of International Women’s Day.
Since its launch in 2019, the campaign has contributed to providing approximately 1.4 million financial products for women by March 2024.
This includes the opening of 664,000 bank accounts, activation of 196,000 mobile wallets, and issuance of 530,000 prepaid cards—marking significant progress in integrating women into the financial system.
According to the CBE, these efforts have led to a tangible improvement in women’s financial inclusion, with 68.8 % of women aged 15 and above having access to financial services by the end of December 2024.
This marks a 295 % increase compared to 2016. The number of women who now hold financial accounts has reached 23.3 million, out of 33.9 million women in the eligible age group.
This progress reflects the broader goals outlined in the CBE’s Financial Inclusion Strategy 2022–2025, which focuses on enhancing financial inclusion for all segments of society—especially women.
To ensure easier access to banking services, the CBE has issued simplified due diligence regulations, allowing individuals—particularly women—to open bank accounts using only their national ID card, whether for personal or business purposes, without the need for additional documentation.
In its continued pursuit of women’s economic empowerment, the CBE has also trained bank staff—particularly in customer segments and product development units—in partnership with international institutions such as the OECD and Women’s World Banking.
These training programs aim to help banks better understand and meet the financial needs of women, with some already launching dedicated product bundles tailored to women’s financial goals.
Recognizing the vital role of fintech in advancing women’s financial inclusion—particularly in rural and remote areas—the CBE has supported the “Tahweesha” digital savings and lending initiative.
By December 2024, around 246,400 women were actively using the app, in addition to 209,000 women who received financial education within savings groups, and 102,500 women outside of these groups.
To further promote digital transformation and bring more women into the formal financial system, the CBE launched a project to digitize remittances from Egyptians abroad, aiming to provide financial services to remittance recipients.
Women account for around 1.5 million remittance recipients, representing approximately 85 percent of total beneficiaries. Additionally, the CBE is actively involved in the Women’s Economic and Social Empowerment Program, carried out in cooperation with the United States Agency for International Development (USAID) and Pathfinder International.
