H.E.Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, the Crown Prince of Dubai honored the chairman of Banque Misr, Mr. Mohamed Eletreby for the bank's ongoing investment in youth across the Arab world during the 10th cycle of the Mohammed bin Rashid Award for Young Business Leaders (YBL).
Banque Misr was recognized for its ongoing efforts in supporting young entrepreneurs involved in micro, small, and medium Enterprises with an invested portfolio, which has increased threefold in 31/12/2017 compared to 31/12/2016.
The bank's micro, small and medium enterprises program has a direct and indirect impact on the lives of 400 thousand beneficiaries and their families across Egypt's governorates.The program has developed an effective platform for SMEs operating in a variety of fields including production, agriculture, and service sectors, which are considered important vehicles for economic development.
This emanates from the bank's strong belief that small and medium industries are the pillars of the national economy and a key driver of prosperity. On this view, Banque Misr participated in government-led "Mashroak" (your project) program in collaboration with the Ministry of Local Development. The program offers one-window finance schemes to micro and small projects through an integrated network of 308 local units spread all over the nation compared to 238 local units in 26/03/2015 covering 77% of the republic. So the far the bank financed 48,392 projects at a value of EGP 2.2 billion as of 30/11/2017, acquiring around 50% of the total loans injected into the program.
As a leading financial institution in the field of corporate finance, Banque Misr is keen to engage in new community development initiatives and protocols, including financing workshops in Robeiky Leather City, funding the development of industrial complexes for SMEs and microenterprises, financing workshops in Damietta Furniture City (DFC) and funding pharmaceutical projects.
The role of the Bank is not limited to providing financial support to customers, but extends to include non-financial support. BM offers continuous non-financial support to Egyptian entrepreneurs through holding professional training sessions to help entrepreneurs in addition to providing consulting and advisory services in order to generate sustainable Economic Development.