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Protocol E-Finance 2019
For the first time in Egypt, Banque Misr signs a protocol with E-Finance to support the digitalization of the agricultural sector in Egypt
Banque Misr recently signed a protocol with "E-Finance", the lead digital payment transformation partner for government and financial services companies, where E-Finance is to provide Banque Misr with the tools to provide its customers from the agricultural sector with advanced financial products and services, including SMEs and microfinance projects, through the electronic agricultural platform that the company owns and manages. In the presence of the leaders of Banque Misr and E-Finance, Mr. Mohamed El Etreby, Chairman of Banque Misr, and Mr. Ibrahim Sarhan, Chairman of E-Finance, signed the protocol. The protocol signature is part of the bank's strategy aiming for digital transformation, financial inclusion, expansion of the electronic payment and collection services, and automation of financial services for SMEs and microfinance projects, especially in a vital sector such as the agricultural one.
Banque Misr aspires for this cooperation protocol with E-Finance to be the cornerstone for providing the agricultural services with funding services through the electronic platform that the company develops in support of the digital transformation of the sector. A first of its kind, this project aims at integrating the data of all the parties of the agricultural sector and facilitating and organizing trade between them using the e-market which includes exhibition, marketing and trade. The platform also offers financial services necessary for buying and selling, and purchasing, in addition to the necessary financial services that the producers need to support production. This serves as part of the financial inclusion efforts, which aim at providing various sectors of the society with all financial services, which will speed the achievement of the 2030 national vision for sustainable development.
This protocol is considered a step towards the implementation of Banque Misr's strategy for digital transformation, and it supports the state's economic activities for which the agricultural sector is a top priority. Banque Misr has taken many steps towards the implementation of this strategy, such as the development and updating of the internet banking service (BM Online) by offering a new range of banking services. In addition, the bank launched its e-banking services for its customers through the mobile banking application, which makes it one of the first banks to offer mobile payment services through its application "BM Wallet", which allows customers to transfer money from Banque Misr's wallet to any other wallet in Egypt, and withdraw from and deposit in their wallet through 8000 ATM machines and 90,000 outlets all over Egypt, in addition to the payment of public utility bills, landline and mobile phones bills, the purchase of tickets, charging mobile phones credit, donations, and much more.
Furthermore, Banque Misr is considered the first to provide the mobile wallet customers with the technology to purchase from Points of Sale and electronic websites using the QR. That is not all; the bank has also automated the funding of microfinance projects to provide the service instantaneously.
Banque Misr believes time and effort are core assets for its customers, and in its efforts to guarantee they are not wasted in vain, the bank is always keen on providing them with innovative electronic solutions and services. As an active leading participant in the economic and social development of Egypt, Banque Misr believes in its responsibility to satisfy the financial needs of the different sectors.
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