CIB launches Bidaya accounts in pursuit of financial inclusion


Commercial International Bank – Egypt (CIB) – the largest private sector bank in Egypt – announces the launch of a group of Bedaya accounts targeting individuals, owners of small and micro companies and self-employed people, as it is characterized by the ease of account opening procedures, which encourages all segments of society to start their banking journey, including In line with the efforts of the Central Bank of Egypt to achieve financial inclusion.

It is worth noting that one of the most important advantages of Bidaya accounts is that it does not require proof of income to open the account, which is a mandatory condition that constituted an obstacle for many groups who do not have permanent jobs or a stable source of income, for example, housewives, young people who do not yet have jobs and self-employed people.

In this context, Rashwan Hammadi, Head of Customer and Retail Banking Sectors at CIB, said, “We hope that the launch of the new Bedaya accounts will have an effective role in encouraging the excluded groups, such as housewives, youth and owners of small and micro businesses, to join the banking sector and enjoy the ease of account opening procedures. So that they can use digital channels such as Internet banking services that allow managing money at any time from anywhere, in addition to taking advantage of products that include a direct debit card that is used in daily transactions and provides many advantages, including a safe online shopping experience, bill payments, and follow-up Expenses, ease of use from anywhere in the world, then added, “At CIB, we always work to empower all segments of society financially and provide them with various types of services that facilitate their lives.”

Bidaya accounts are available to Egyptians only. For individuals, only a national ID card is required to open the account. As for owners of small and micro companies, they can open an account with the fewest number of documents.


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