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For the First Time in Egypt: Banque Misr Launches Banque Misr Express Digital Bank’s Murabaha Online for Financing Small Projects as Part of the Bank’s Digital Service Offerings
Banque Misr recently launched online Murabaha for financing small projects, for the first time in Egypt under the supervision of a Sharia Board. This Murabaha is considered one of the services offered under Banque Misr Express, which encompass numerous digital services set for launch in the near future. The Murabaha features various benefits and privileges; such as enabling the Bank’s customers to submit a financing application online via the website, without the need to visit the branch, on a step-by-step basis at minimum procedures. The Murabaha can be obtained within 5 days from the date of submission, subject to applicable terms and conditions, starting from EGP 100,000 up to EGP 2 million at a competitive rate of return.
This complements the success achieved by Banque Misr insofar as digital transformation, as a pivotal pillar upon which it bases its business processes, so as to stay up to speed on technological developments and advancements. For instance, the Bank has launched Express Online as the first digital loan for financing small projects in Egypt, together with automating micro financing. The Bank has updated and developed its internet banking service "BM Online” by offering a bundle of new banking services to customers. Banque Misr has also launched electronic banking services to customers via mobile phones through the mobile banking application, becoming one of the first amongst its counterparts to offer this service via the “BM Wallet”. Banque Misr has also recently utilized artificial intelligence technologies to offer the “Automated Assistant Chat Bot” through its web portal, to serve customers around the clock, while launching WhatsApp for Business to diversify its communication channels.
Worth noting in this regard, is that Banque Misr has attained numerous awards as Best SME Financing Bank – Egypt 2020 from acclaimed global institutions, in acknowledgement of its accomplishments in this domain.
Banque Misr keenly strives to ensure the uniqueness of its services and to provide innovative offerings to fulfil the requirements of customers, while developing its network of branches and adding advanced digital services that guarantee a better experience for customers. This is coupled with building the necessary capabilities for offering improved banking and financial services.
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