The National Human Rights Council welcomes the decision of the Central Bank to authorize mothers to open bank accounts for minor children
The National Council for Human Rights (NCHR) appreciates the decision of the Central Bank of Egypt, which includes the possibility for a mother to open accounts in the name of her minor children or to link savings accounts to their names, as required by Section (3) of the Money Conservancy Provisions Act promulgated by Legislative Decree No. 119 of 1952, as part of the continuing efforts of the state to facilitate banking transactions for women, and to remove all difficulties or restrictions that may prevent women from obtaining banking services of any kind,
NCHR Economic Rights Committee considers the decision to support women's economic rights and economic empowerment, as well as promoting financial inclusion in society, in order to achieve the goals of the National Human Rights Strategy and Egypt's vision for sustainable development 2030 by achieving gender equality in access to banking services, without discrimination, increasing women's contribution to the domestic product and activating their important role in society in his outfit.
This decision taken by the Central Bank intervenes within the framework of a control of the various practices applied by certain banks in the matter, in particular the absence of the right of the mother to open accounts in the name of her minor children or to bind savings accounts in their names, or limiting the mother's transactions to gift accounts only.