Can a certificate be purchased in a child's name?

Certificates of deposit or savings accounts may be available in the minor's name, subject to bank regulations and guardianship rules.

Key points

• The guardian or custodian manages the product within their legal authority, but the funds remain the minor's property and do not belong to the guardian.

• Before purchasing, inquire about who can redeem or renew the certificate, and whether additional approvals are required for withdrawals or loans secured by it.

Source

• Central Bank of Egypt — Know Your Rights

• Banque Misr — EGP Certificates of Deposit

• Banque Misr — Fees and Commissions Tariff