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Banque Misr Signs a Protocol of Collaboration with the Ministry of Justice and E-Finance for Activating the Ministry’s Electronic Collection System

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.