In line with the state’s strategy targeting a digital economy and on
the sidelines of Cairo ICT 2020, Banque Misr, the Ministry of Justice and
E-Finance signed a protocol of collaboration to activate the MOJ’s electronic
collection system. The signature was witnessed by Justice Omar Marwan – the
Minister of Justice and Mr. Rami Abulnaga – Deputy Governor of the Central Bank
of Egypt; and was concluded by and between Mr. Akef El Maghraby – Vice Chairman
of Banque Misr, Justice Ahmed Khairy – Assistant Minister of Justice for
Specialized Court Affairs and Mr. Ibrahim Serhan – Chairman of the Board of
E-Finance. The ceremony was also attended by select executives, banking and
legal personalities. The protocol aims to electronically collect judicial fees
payable for claims made online before economic courts, via electronic payment
cards through various payment means; such as POS, ATMs, mobile wallets and the
MOJ’s web portal.
Mr. Akef El Maghraby stated that the signature of the
collaboration protocol comes within the framework of Banque Misr’s pioneering
role in the field of electronic payment services and its expansion plan insofar
as electronic collection via the internet. It is also in line with the state’s
efforts for propagating a culture of financial inclusion, activating electronic
payment and collection services and the gradual transformation to a cashless
economy. This is by disseminating the use of cashless payment methods and the
utilization of electronic payment cards. Worth noting is that the Bank had
contracted with numerous public entities, government and private universities for
expanding the reach of electronic payments, in order to serve the requirements
of customers and make such methods available to all segments of society, with
the objective of facilitating payment, achieving financial inclusion – as an
overarching national objective – and complying with the policies of the
National Council for Electronic Payments, by promoting the use of electronic
means and channels of payment as an alternative to cash.
On his part, Mr. Ibrahim Serhan commended the protocol, which he
considered to be a significant stride towards digital transformation in all
Egyptian institutions, while also being in line with state strategies in this
regard, stating that, “The new agreement includes facilitating the payment of
fees for judicial services rendered by economic courts and hence extending a
better and more convenient service to all citizens generally – and to investors
of all nationalities, specifically – since investors constitute the majority of
patrons interacting with economic courts. Providing them with the advantage of
affecting electronic payments wherever they may be located will be extremely
convenient, as it reduces time and effort and instills confidence and
flexibility in Egypt’s investment environment, which will ultimately serve the Egyptian
economy.” Mr. Serhan also expressed his gratitude for the participation of such
a renowned and reputable bank as Banque Misr in rendering this new service; and
commended the efforts by Egypt’s judicial entities that have continuously
worked to develop services provided to citizens and visitors as best as
possible; reiterating the commitment to cooperate with all partners and
institutions to further the Egyptian economy and society.
On a similar note and in continuing the long-standing
collaboration between Banque Misr and the MOJ, both parties concluded another
protocol seeking to raise awareness of the law regulating restructuring and
preventive bankruptcy. This is in addition to holding seminars and courses on
economic laws to better inform honorable economic court justices and their
assistants - comprising experts and other personnel at Banque Misr. The
protocol also calls for the exchange of expertise and best practices to stay
abreast of all relevant legal and banking matters, as well as conducting
applied studies on the use of modern technological means in online litigation,
while complying with the state’s strive towards digital transformation.
Banque Misr continuously seeks to support the efforts of digital
transformation by providing innovative online solutions to facilitate
transactions and meet customers’ needs, while rendering banking and financial
services seamlessly and conveniently. The
Bank also strives to improve its services, maintain its long-term successes and
effectively participate in offering services that fulfil the needs of customers;
since the values and strategies of Banque Misr reflect its commitment and
dedication to sustainable development and to achieving prosperity for Egypt.
