Card Transactions Dominate Banking Complaints in Egypt: CBE's Report 2022

The majority of customer complaints related to banking products were about card transactions, accounting for approximately 58.5% of total banking complaints in 2022, according to the latest financial stability report issued by the Central Bank of Egypt.

Most complaints from customers were regarding issues with withdrawals, purchases, and system errors related to these transactions. Banks are required to review their card systems and provide more awareness on how to handle them.

Electronic and digital services ranked second, constituting 9.3% of total banking complaints in 2022, indicating a positive trend toward digital transformation in the Egyptian banking sector by relying on electronic and digital banking products.

It's worth noting that CBE places significant importance on customer complaints from individuals and companies. In 2021, a unified reporting system was established, linking all banks through an electronic platform controlled by CBE. Banks submit quarterly reports on complaints, aiding in assessing the performance of the Egyptian banking sector.

In 2022, a total of 1.81 million complaints were submitted to banks, of which 1.64 million were accepted. Among these, 1.55 million were individual customer complaints, 69,000 were non-customer complaints, and 11,000 were complaints from corporate clients.

Cairo and Matrouh had the highest complaint rates in relation to the number of bank customers in the provinces, recording 8.7% and 7.7%, respectively, in 2022.