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Banque Misr Signs a Protocol of Collaboration with the Federation of Egyptian Chambers of Commerce and the Cairo Chamber of Commerce to Support Entrepreneurs and Promote the Concept of Digital Transformation
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.
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