Banking In Egypt: Protection Of Customers

Legal Protection of Bank Customers Under the UK Law

The banker-customer relationship can be classified as an agency contract which entails privacy to be maintained of the said relationship. In general, an agent owes a duty of care and privacy to his principal¹.

The milestone case identifying the duty of confidentiality and its principles was the case of Tournier v National Provincial and Union Bank of England². The identified principles where a bank is permitted to disclose customers' information are:

1. Where the bank is compelled by law to disclose the information;
2. If the bank has a public duty to disclose the information;
3. If the bank's own interests require disclosure; and