Egypt allows 15-year-old citizens to invest in EGX

This move aligns with a recent amendment to Civil Status Law No. 143 of 1994, which requires all Egyptian citizens aged 15 and above to obtain a national ID card within six months of reaching that age.

The new regulation is part of the FRA's ongoing efforts to expand access to non-banking financial services and further youth's financial inclusion and integration goals.

In line with these objectives, the Central Bank of Egypt (CBE) has also allowed in November youth to open bank accounts from the age of 15 without the need for parental consent.

Financial inclusion in Egypt has surged by 181 percent, with the number of Egyptians holding transactional accounts rising from 17.1 million in 2016 to 48.1 million as of June 2024. This covers 67.3 million eligible citizens aged 16 and above, the CBE announced in December.

The CBE reported in August that the number of women holding transactional accounts increased to 20.8 million in June 2024, compared to 20.3 million in December 2023.

The FRA’s new decision is also aimed at enhancing financial literacy among young people, introducing them to non-banking financial activities and teaching them the benefits of investing.

On Sunday, the FRA disclosed that the total financing extended by entities under its oversight, covering capital market activities and non-banking financial services, amounted to EGP 718 billion during the first 10 months of 2024.

These young investors can trade based on funds earned through employment or received for their living expenses.

The new regulation stipulates that the investment portfolio of individuals in this age group is capped at EGP 40,000, a significant increase from the previous limit of EGP 10,000.

The limit applies exclusively to buying and selling listed securities and excludes specialized activities such as margin trading and securities borrowing for sale.

The FRA may also increase this limit by up to 10 percent annually.