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Banque Misr sponsors the Symposium entitled “The Role of Banks in Financial literacy and Financial Inclusion” held at Ain Shams University

Owing to adopting the concept of Financial Inclusion and being the first among the Egyptian Banks to support and advocate all the financial literacy and financial inclusion activities, on Sunday, April 22, 2018, Chairman of Banque Misr – Mr. Mohamed El-Etreby has attended the symposium entitled "The Role of Banks in Financial literacy and Financial Inclusion" that was convened at Ain Shams University.  The role of Banks towards financial literacy and inclusion has been the main topic discussed during the symposium; as financial inclusion concept is considered as a strategic orientation  that aims at achieving financial and societal stability and it is considered as well one of the financial development areas that accelerates development rate within the countries adopting "Financial Inclusion" concept, through enabling the different categories of society to have an access to all the financial services through the official channels including; banking accounts and saving accounts, payment and transfer services, insurance services, and finance and credit services to avoid the resorting to any unofficial channels and methods i.e. the channels that are not governed by the minimal limit of supervision and control, and do not contribute to the economic development.

The symposium has also addressed the huge efforts that the Egyptian Central Bank, Federation of Egyptian Banks and Egyptian Banking Institution exert for the sake of promoting the achievement of financial inclusion; the symposium has equally tackled the positive outcomes of the financial inclusion that will reflect on the whole economy, and it has also addressed Banque Misr endeavors to achieve such financial inclusion.  On the sidelines of the symposium, the closing of Egyptian Banking System Model (EBSM) that Banque Misr has adopted since four years ago has been celebrated; where Mr. Mohamed El-Etreby, the Chairman of Banque Misr and Dr. Suzan Hamdy, the General Manager and Director of Capital Markets Group (CapM) at Banque Misr, have been presented the EBSM trophy as an appreciation for Banque Misr serious endeavors towards the success of this model.

Furthermore, Banque Misr engagement in this symposium takes place as a part of the persistent efforts Banque Misr exerts in order to revitalize financial literacy an inclusion process for university students, and to raise students' awareness about the importance of the banking system and the variety of banking services offered by it as well as the vital role played by the banking system in developing the National Economy. And this through sponsoring "Egyptian Banking System Model" in collaboration with each of Faculty of Economics and Political Science – Cairo University and Egyptian Banking Institution.

In addition, on Saturday corresponding to 14/4/2018, Banque Misr has held the "Egyptian Banking System Model" at the International Transactions branch; whereas Bank Misr has invited 120 students from Cairo University and Ain Shams University, whom are participating in the program, so that they can practically get acquainted with banking activities offered by the Bank and so that their skills will be enhanced, which will help in the dissemination of knowledge of banks among the youth and will help in achieving the financial inclusion. Not to mention that, Banque Misr as well initiates various campaigns to market the banking products of the youths such as "Youths Card and Internet card" through the existence of mobile units in public and private universities to raise students' awareness and to lead them towards banking system and investment as well as to introduce them gradually to the ideology of non-monetary society.   

It is worth mentioning that, in alignment with the Egyptian Central Bank plan for the reinforcement of financial inclusion efforts, Banque Misr works through several areas the most important of them is; owning the largest network of branches in Egypt and the Middle East that reaches over 600 branches wide spread all over Egypt, Banque Misr as well looks forward to establish 275 new branches throughout the following years in an effort to provide the different categories of the society with all financial services, so that wherever the customers are Banque Misr will always be the closest to its customers.

In the pursuit of contributing to the transition from a monetary society to a non-monetary society, Banque Misr is then considered as a leading Bank in the field of mechanizing the salaries of governmental employees. Whereas Banque Misr has maintained its top rank among the Egyptian Banks throughout the past ten years, with a market share that amounts to 48% of  the total market share in the field of mechanizing the governmental employees' salaries transactions in addition to 2.4 Million cards related to 890 Governmental Authorities under contract with Banque Misr, also the total value of the salaries and transferred each year, for both of the public and private sectors, have reached up to about 52 Billion EGP yearly.

In this context, and emanating from the leading role of Banque Misr in providing electronic services, Banque Misr has developed the electronic payment service "BM Wallet" that offers payment through mobile phones, Banque Misr as well has developed monetary transfer service i.e. "Engaz" that enables the Bank customers and others to carry out monetary transfer throughout the Twenty Four hours with the simplest procedures and through the presence all over the Egyptian Governorates.

Moreover, Banque Misr believes that applying the concept of financial inclusion is among the priorities of the Egyptian Banks in the coming period, and that all the efforts of the Egyptian Banks must be in conformity with the Central Bank's strategies and efforts so as to enforce the financial inclusion and to make a significant change in the Egyptian Economy. Therefore, Banque Misr is constantly keen on promoting and taking part in the Arab/Global Financial Inclusion week in a way that supports the dissemination of financial inclusion concept.

Accordingly, Banque Misr nowadays participates in the events of Arab Financial Inclusion Day entitled "Bank Account for Every Citizen"; as Banque Misr has opened bank accounts for all the segments of the society without any expenses and without minimum limit, along with decreasing about 50% at least of the annual expenses of the account.