Business banking in Egypt

How business banking works in Egypt

Business banking in Egypt is dominated by large state banks, such as the National Bank of Egypt and Banque Misr, alongside private banks such as Commercial International Bank, QNB Alahli, and Banque du Caire, and international banks operating locally such as HSBC Bank Egypt. All are supervised by the Central Bank of Egypt, which sets the know your customer and anti money laundering rules that shape onboarding. A company normally needs a commercial registration and a tax card before any bank will open an account, and most business accounts are still opened in person at a branch.

Who can open a business account

An Egyptian registered company, including a limited liability company, a joint stock company, or a sole proprietorship with a commercial registration, can apply. Investment Law 72 of 2017 allows full foreign ownership in most activities, so a foreign owned but Egyptian registered company can open an account, usually with a resident authorised representative and additional documentation. A purely foreign company with no Egyptian registration generally cannot open a domestic business account.

Traditional banks compared with neobanks

Traditional Egyptian banks offer branches, cheque books, trade finance, and letters of credit, which matter for importers and larger companies, but tend to ask for more documents and set minimum balances. Standalone business neobanks are not yet established in Egypt the way they are in some markets, and most international providers do not open accounts for Egyptian registered businesses. For receiving international payments, services such as Payoneer are widely used by Egyptian agencies and online sellers alongside a local bank account. As of 1 April 2026, confirm the current options with each provider.

Requirements and documents

Most banks in Egypt ask for a similar core set of documents, as of 1 April 2026. Verify with the provider

• The commercial registration certificate and the company memorandum and articles of association.
• The tax card, plus the national ID for Egyptian owners or a passport for foreign owners, for every director, significant owner, and authorised signatory.
• Proof of a registered business address, such as a lease or a utility bill, and a board resolution or power of attorney authorising the account and its signatories.

How to open an account

1. Register the company with the General Authority for Investment and Free Zones, and obtain the commercial registration and tax card.
2. Gather the company and owner documents above, and choose a state, private, or international bank that fits your needs.
3. Apply at a branch, complete the know your customer checks, and verify the minimum balance and current fees with the bank before you fund the account.