• Activate CBE’s decision regarding the setting up of small bank branches in governorates and remote areas. The current fees for opening bank accounts must be lowered, and the procedures simplified to encourage citizens to open accounts.

On May 10, 2020, CBE issued a number of instructions, which entailed the following:

• Suspending all fees and commissions on POS, ATMs, and electronic wallets for 6 months, as well as exempting in-country local currency transfers from all the fees and charges for 3 months.  
• Raising the maximum limits for mobile phone accounts and prepaid cards; allowing banks to open internet and mobile accounts for existing clients using the data held by the bank; using electronic identification procedures for new clients, and allowing the issuance of electronic wallets and prepaid cards at no fee for 6 months. 
• Setting a temporary daily limit on withdrawals and deposits for individuals: LE 50,000 in banks’ branches and LE 20,000 from ATMs.