Ahmad 
Several Egyptian banks decided to raise fees for their banking services, especially on bank accounts and paper account statements.
The National Bank of Egypt and Banque Misr, two of the largest government banks, announced these increases, which amount to 20 to 30 Egyptian pounds every three months.
The Commercial International Bank, the largest private sector bank, decided to postpone the implementation of its new fees until customer opinion is surveyed, indicating that it will announce any future changes before taking them into effect.
The increase also included the costs of paper services, as the National Bank of Egypt announced an increase in fees for paper account statements from 60 to 75 pounds every three months.
Regarding credit cards, Banque Misr has begun raising the annual renewal fees for cards to range between 150 and 350 Egyptian pounds.
Banks maintained their commitment to supporting “financial inclusion” by launching initiatives that exempt customers from some fees, according to a report by the Central Bank of Egypt.
“Financial inclusion” is a strategy that aims to provide comprehensive access to basic financial services such as bank accounts, loans, insurance, and money transfer services through official financial institutions.
This “inclusion” contributes to enhancing economic growth, as banks play a role in this context by developing various financial products and expanding access to financial services, with a focus on financial education and cooperation with other actors to overcome challenges such as poverty, lack of financial awareness, and high costs.
Statistics indicate an increase in the number of bank accounts and electronic wallets during the period between 2017 and 2023.
Banks are investing in technological infrastructure to reduce operating costs, and these efforts extend to improving digital and electronic services that make it easier for customers to manage their financial affairs more efficiently and at a lower cost.
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