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World Union of Arab Bankers Awards the Federation of Egyptian Banks Outstanding Performance Award in Facing the COVID-19 Crisis 2020

The World Union of Arab Bankers honored Mr. Mohamed El-Etreby – Chairman of Banque Misr – on the occasion of the Federation’s attainment of the award for “Outstanding Performance in Facing the COVID-19 Crisis”, during a ceremony held in Beirut, Lebanon on Friday, 18th December 2020. This accolade comes as a merit of entitlement for FEB, which has recently – and since declaring COVID-19 a global pandemic – prioritized the health and safety of customers and employees of the banking sector, owing to its pivotal role in the realm of corporate social responsibility and the initiatives it spearheads towards advancing Egyptian society.

FEB’s efforts mirror the state’s strive – during these testing times – for mitigating the impact of COVID-19 on an economic, social and health level. The pandemic has been professionally and soundly managed, thank to the collective efforts of all state authorities that have diligently supported citizens. As such, the interests of Egyptians and maintaining their health and safety were prioritized above all other considerations.

FEB had firmly supported the efforts exerted by the state in combating COVID-19 and mitigating its effects; from establishing a plan for precautionary measures to be observed by banks in order to maintain the health and safety of banking sector employees and customers, to coordinating the collection of donations for those most affected – amounting to some EGP 750 million – and collaborating with the state to provide medication and medical equipment to those in need. This is in addition to the awareness campaign launched by FEB on the advantages of electronic payment, as a potent precautionary measure, which targeted propagating the use of POS and QR Code by vendors, workers and customers as a simple and convenient channel facilitating electronic transactions. This came within the framework of the state’s plan to limit dependence on cash and encourage the use of electronic payments and digital means, in support of social distancing and preventing crowding.   

FEB had also proposed to the Central Bank of Egypt suggested business hours for banks – in light of the COVID-19 crisis – and measures for assisting workers of the banking sector, owing to the risks posed to them on a daily basis. FEB also coordinated with both CBE and the Ministry of Health the allocation of beds for banking sector workers in need, in addition to encouraging banks to activate their digital platforms and compile informative D2 movies for introducing electronic channels that may be used by customers in communicating and completing their banking transactions, without the need to physically visit bank branches.

FEB has consistently worked towards providing the best possible channels of communication to actively support collaboration in the midst of this crisis, by partnering with the government and various civil society institutions. This is with the objective of strengthening state efforts attempting to mitigate the impact of the pandemic, while also being in line with the values and strategies adopted by Egyptian banks, which reflect the constant commitment to achieving sustainable development and prosperity for Egypt.