Are deposits in Egyptian banks insured, and up to how much?

The Central Bank and Banking Sector Law No. 194 of 2020 established a Deposit Insurance Fund affiliated with the Central Bank; all banks are members, and it is chaired by the Central Bank Governor. The law says the Fund's statute is what defines the scope of the deposit guarantee and its maximum.

The law also sets the repayment order if a bank is liquidated: after secured debts, customer deposits (except deposits of parties related to the bank) rank second, right after the liquidator's expenses and ahead of other claims such as employees' wages.

• What we have not established: that the Fund's statute has been issued and operates, and any coverage limit. That is why we do not say deposits are insured up to any amount; be careful with any figure quoted without an official source.

Whether to split your money across several banks is your decision. If you split, each part is judged at its own amount, because the minimum and the return change with the amount.