To the end of facilitating tuition fee payment for parents, an agreement was made by and between the Ministry of Education and Technical Education - represented by the Egyptian-Japanese Schools Unit and the School Management Company "Emerald for Educational Development and School Management" - and Banque Misr, for providing a facilitated education finance loan from the Bank, with the aim of financing school expenses and tuition fees of students of the Egyptian Japanese schools, which number some 43 schools throughout 24 governorates .
Pursuant to the agreement, Banque Misr shall allow applying for an education loan through various financing programs that suit the different needs of customers. The loan term shall be up to 8 months and installments shall be due during the period from September 5 to April 5 of the following year. The agreement includes free life insurance for the borrower in the event of death or total disability; and the financing ratio shall be up to 100% of the value of the tuition fees.
The Ministry explained that the Egyptian Japanese schools offer a distinct educational model, whose importance lies – for the Egyptian state – in its strategy, geared towards building the Egyptian youth, owing to the focus by the Japanese educational system on the proper formation of all personality aspects as well as academics among children and students; including moral values and the development of collective action for the purpose of preparing new generations to face the challenges of practical life.
This cooperation comes within the framework of Misr Banque's constant eagerness to actively participate in everything that relates to human development and its belief that obtaining a good education is one of the most important pillars impacting the formation and development of persons. This is by enhancing various talents, the acquisition of skills and the practical experience necessary to become an active member of society; since the development of nations and civilizations occurs with the help and knowledge of their own.
Worth noting is that Banque Misr offers an education loan as part of a suite of retail banking loans that suit the needs of different customers, via its network of branches – totaling some 700 branches – spread throughout the Republic. This is in addition to the education Murabaha that is provided through Banque Misr's branches for Islamic transactions (Kenana) to fund all academic and university stages, degrees and specialized training programs.
