In its commitment to providing services tailored to citizens' needs and enhancing the digital transformation system in various government services, Banque Misr recently signed a cooperation protocol with the Internal Trade Development Authority at the Ministry of Supply and Internal Trade. The signing ceremony was attended by key dignitaries, including His Excellency the Minister of Supply and Internal Trade, Prof. Dr. Ali El-Moselhy, Mr. Mohamed El-Etreby (Chairman of the Board of Directors of Banque Misr), Prof. Dr. Ibrahim Ashmawy (First Assistant Minister of Supply and Internal Trade and Chairman of the Board of Directors of the Internal Trade Development), Mr. Ehab Dorra (Head of Branches and Retail Banking Sector at Banque Misr), Mr. Amr Hashem (Head of Central Operations Sector at Banque Misr), Mr. Maged Abdallah (Head of Branches Sector at Banque Misr), along with other distinguished representatives from Banque Misr and the Ministry of Supply and Internal Trade.

The protocol enables collaboration between Banque Misr and the Internal Trade Development Authority, facilitating direct access to commercial registration data for corporate customers at Banque Misr. This is particularly beneficial when opening an account for a commercial establishment or obtaining loans for a commercial establishment. Banque Misr aims to take the lead in contracting this service in the banking sector. Additionally, selected Banque Misr branches will host outlets affiliated with the Internal Trade Development Authority to provide commercial registration services in various governorates.

Prof. Dr. Ali El-Moselhy, Minister of Supply and Internal Trade, emphasized that the protocol's signing aims to offer commercial registry services to Banque Misr customers by establishing registry offices within select branches across different governorates. This initiative enhances customers' accessibility to services in a convenient manner, aligning with the directives of President Abdel Fattah El-Sisi for digital transformation, fostering a better future for the economy. Dr. El-Moselhy highlighted the historical fragmentation of commercial registry offices, which are now interconnected. Additionally, the commercial registry services are linked to various government agencies, contributing to the creation of a unified database. Notably, a unique 15-digit unified number, covering both the establishment and its branches, has been assigned to each commercial entity. This groundbreaking system, fully implemented for all establishments in the commercial register, aims to streamline procedures, provide an accurate depiction of commercial development, and facilitate the launch of the digital merchant register in a suitable digital environment.

Mr. Mohamed El-Etreby, Chairman of Banque Misr, underscored that the cooperation protocol's signing represents a seamless continuation of Banque Misr's successful efforts in advancing digital transformation. He emphasized the bank's commitment to localizing cutting-edge technological services across its various operations to stay abreast of global developments. Recognizing the necessity of technological services for sustaining the bank's leadership in the Egyptian banking market, Mr. El-Etreby highlighted that integrating digital transformation elements into the banking system will further enhance the delivery of banking and financial services. This commitment aligns with Banque Misr's distinguished role in elevating service excellence, providing electronic solutions for customer convenience, and making substantial contributions to the facilitation of banking and financial services in a seamless and advanced manner.

Dr. Ibrahim Ashmawy, First Assistant Minister of Supply and Head of the Internal Trade Development Authority, emphasized that the opening of branches for the Commercial Registry Office within selected Banque Misr branches will bring about a qualitative leap in accessing all registry services with ease. This initiative introduces, for the first time in the banking sector, the service of linking information between the commercial registry and Banque Misr.

The new service allows inquiries about commercial registration data for Banque Misr customers when opening an account for a commercial establishment or obtaining loans. It provides information about the relationship of the account holder or authorized person with the establishment and verifies whether the establishment is operational. The service also furnishes additional data required by the bank about the commercial establishment during customer transactions. This innovative approach enables the bank to electronically verify data and make instant inquiries by connecting with the commercial register of the Internal Trade Development Authority.

Furthermore, the integration of trademark databases with commercial register databases ensures the issuance of certificates affirming the non-confusion of trade names. Dr. Ashmawy highlighted the successful implementation of Commercial Registry Office branches in numerous banks, especially following the launch of commercial registration services for the banking sector by the Ministry of Supply and the Internal Trade Development Authority. This initiative empowers banks to access various registry services, including inference and inquiries about the establishment or partner/shareholder using different search methods, such as national and tax registration numbers. The electronic copy of the registration sheet provides comprehensive data, such as trade name, activity, address, shareholder structure, amendments, and historical visas, contributing to a more credible and streamlined process. This unique model serves as a benchmark for government services, facilitating interactions with investors and boosting economic returns through the provision of these streamlined services.

Mr. Ehab Dorra, Head of Branches and Retail Banking Sector at Banque Misr, confirmed the bank's commitment to enhancing its success and actively participating in initiatives and protocols to provide services that align with the needs of all customer segments. Banque Misr is keen on leveraging electronic channels that offer maximum benefits through secure technology and banking transactions. The bank has expanded its digital services in line with the state's policy to promote financial inclusion, with its values and strategies reflecting a steadfast commitment to Egypt's sustainable development and prosperity.