Egypt's central bank has approved regulations for a digital financial identity platform that will enable remote customer verification and identification, it said on Sunday, as it seeks to expand access to financial services. According to Reuters, it said the move was part of efforts to support digital transformation, promote financial inclusion and modernize the banking sector's digital infrastructure. Governor Hassan Abdalla said the platform will enable more citizens to open bank accounts and access banking products and services online without visiting branches. The regulations set out a governance framework, defining the roles and responsibilities of relevant parties, along with technical, data protection, and cybersecurity requirements, the central bank said.
