Banque Misr recently signed a protocol of collaboration with the
Federation of Egyptian Chambers of Commerce and the Cairo Chamber of Commerce,
which comes as part of its endorsement of entrepreneurs by providing suitable
financing solutions and propagating the concept of digital transformation. The
protocol also serves to disseminate a culture of a cashless society and expand
the use of electronic payment – by
making it available to all segments of society – as warranted by
financial inclusion, which is deemed a national objective of the Egyptian
state. The signature ceremony was attended by select executives representing
Banque Misr, the Federation of Egyptian Chambers of Commerce and the Cairo
Chamber of Commerce.
The protocol was signed by and between Mr. Mohamed El-Etreby –
Chairman of Banque Misr and Eng. Ibrahim Mahmoud El-Araby – President of the
Federation of Egyptian Chambers of Commerce, in support of entrepreneurs who
are owners of SMEs and members of the Federation. Pursuant to the protocol, banking
and financial solutions will be provided via Banque Misr, in addition to a
suite of non-financial tools, through the Bank’s endorsement of the
Nilepreneurs initiative, which was launched by the Central Bank of Egypt along
two streams (Design Houses and Business Development Centers). This is in
addition to a cooperation agreement signed with the International Finance
Corporation for rendering non-financial products and services to women, under
the various SME categories and the umbrella of CBE initiatives. Banque Misr has
keenly partaken in the protocol, owing to its status as a leading organization
that has consistently supported SMEs and being a driver of the national
economy, thanks to its extensive network of branches throughout Egypt. Also
worth noting is that our Bank pays special heed to exporters and has
continuously offered financing solutions to support this vital sector.
Similarly, Mr. Akef El Maghraby – Vice Chairman of Banque Misr –
and Eng. Ahmed El Weseimy – Vice President of Cairo Chamber of Commerce –
signed a collaboration protocol, which calls for the Bank’s rendering of
innovative banking services, allowing the Chamber to automate collection of
revenues via the Bank’s branches. This is in addition to handing out POS
devices to the Chamber’s collectors so as to enable them to collect payable
dues in a more safe and convenient manner. Banque Misr’s “Meeza” cards replaced
the conventional calling cards and the Chamber’s payments to vendors and
government entities were also automated. The signature of this protocol comes
in line with Banque Misr’s endorsement of digital transformation efforts by
providing online solutions that facilitate transactions, while expanding the
use of electronic payments and making them available to all segments of society.
This fulfils the aims of financial inclusion – being one of the state’s
strategic objectives – and complies with the policies of the National Council
of Electronic Payments, by promoting the utilization of electronic means and
channels as an alternative to cash payment.
The Bank constantly
partakes in initiatives and protocols that serve individuals and facilitate
transactions; while improving its services, maintaining its long-term successes
and effectively participating in offering services that fulfil the needs of
customers. This is since the values and strategies of Banque Misr reflect its
commitment and dedication to sustainable development and to achieving
prosperity for Egypt.
