Egypt orders banks to set up consumer-centric divisions before March 2020

Egypt’s central bank has asked banks to complete launching of consumer protection department before the end of March 2020, an official source said on Monday.

The department will ensure customer-focused transparency regulations and disclosure rules, the official source further told Amwal Al Ghad.

The Central Bank of Egypt (CBE) said in a circular dated February 19 on banking sector consumer protection, aimed at handling consumer’s complaints and investigating them.