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Tripartite Protocol of Collaboration Between Banque Misr, E-Finance and Al-Azhar University to Support the Electronic Collection System Serving Students, Employees and Faculty Members
Within the framework of state efforts exerted for the deployment of electronic payment and collection means and in implementing the directives of the political leadership towards activating the digital transformation of various government services; Banque Misr, E-Finance and Al-Azhar University announced an agreement to activate the University’s electronic payment and collection system.
The protocol was signed by Mr. Mohamed El-Etreby – Chairman of the Board of Banque Misr, Dr. Mohamed El-Mahrasawy – President of Al-Azhar University and Mr. Ibrahim Sarhan – Chairman of the Board of E-Finance company; in the attendance of senior executives representing the three parties.
The protocol aims to provide electronic payment tools and means; such as through the University’s website or through POS belonging to “Khales” network, which is a subsidiary of E-Finance. Collection is made via banking cards, QR codes or the BM Wallet; in addition to installing ATMs at the University’s buildings and hospitals to facilitate transactions for students, employees and faculty members.
The signing of this protocol comes in line with Banque Misr’s support for the transformation to a cashless society and ensuring the convenient performance of all banking transactions; especially owing to the current conditions and the preference for social-distancing and for the utilization of electronic services. This also contributes to fulfilling the state’s national objectives for achieving financial inclusion and realizing the policies of the National Electronic Payments Council.
Mr. Mohamed El-Etreby – Chairman of the Board of Banque Misr – asserted that digital transformation has become pivotal to the local and global economy, in light of the emergency situation imposed by COVID-19, which has mandated social distancing and the use of digital service platforms. In response, the Bank has expanded the provisioning of a large number of digital services to its customers, as well as striving to establish the first digital bank in the Egyptian market.
Banque Misr targets the provisioning of numerous electronic payment methods such as BM Wallet and banking cards to Al-Azhar University students – which number some half a million male and female students in a multitude of the University’s colleges in Cairo and the governorates – in addition to approximately 23 thousand expat students from more than 100 countries around the world.
On his part, Dr. Mohamed El Mahrasawy – President of Al-Azhar University – expressed his gratitude for signing this protocol of collaboration with such distinguished entities as Banque Misr and E-Finance, noting the latter’s pivotal role in digital transformation projects adopted by the Egyptian state. Hence, it was selected to implement the University’s portal – owing to the great trust in the company and its leadership in the domain of electronic payment and collection – for rendering payment and collection services to the University’s student and faculty body.
Dr. El Mahrasawy added that the University’s portal is an integral part of its strategic plan to support the digital transformation of its colleges in Cairo and the governorates and comes in line with current state trends.
Mr. Ibrahim Sarhan – Chairman of the Board and Managing Director of E-Finance – reiterated that this step by Al-Azhar University towards facilitating transactions for its students and faculty is considered an important move towards digital transformation. He added that the portal enables convenient services, while being professional and secure.
Mr. Sarhan noted that this strategic cooperation between E-Finance and Al-Azhar University reflects the durable relationship between the two parties; emphasizing the portal’s role in simplifying and facilitating transactions for students and faculty. It is also in line with the tenets of financial inclusion and Egypt’s Vision 2030 for sustainable development, which aims to enable all social segments to access financial products and services that fulfil their varying requirements.