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Banque Misr Concludes Collaboration Protocol with the Ministry of Youth and Sports for Additional Branches and the Provisioning of Electronic Collection Services
Banque Misr concluded a collaboration protocol with the Ministry of Youth and Sports; which was attended by Dr. Ashraf Sobhi – Minister of Youth and Sports and Mr. Mohamed El-Etreby – Chairman of the Board of Banque Misr. Mr. Akef El-Maghraby – Vice Chairman of the Board of Banque Misr – signed the protocol on behalf of the Bank with Ms. Iman Abdel Jaber – Ministry Undersecretary, Central Administration for Youth Centers and Organizations, on Wednesday 17th March 2021. The ceremony was attended by select executives representing both parties. The protocol targets the establishment of Banque Misr branches at youth centers and organizations, in addition to provisioning ATMs at targeted youth centers. The Bank is also set to offer an electronic collections portal – via internet and the Ministry’s mobile application – as well as POS and QR Code.
The signing of this protocol comes in line with the strive by Banque Misr to render advanced electronic services, to support the direction of the Egyptian state and the CBE’s plan for financial inclusion – considered a priority for Banque Misr – together with the transformation to a cashless society. This is by driving the utilization of electronic payment transactions – as instructed by the policies of the National Electronic Payments Council, headed by the President – with the aim of limiting banknotes and pushing for the use of electronic means and channels as a viable alternative.
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 payments and achieving financial inclusion – as an overarching national objective. It also comes in line with offering financial services to various social segments through geographical expansion and hence, the Bank maintains a most expansive network of 700 branches throughout Egypt, in addition to its global and regional presence. Banque Misr adopts a strategic plan intending on increasing the number of branches to 875 by the year 2022.
The Bank – being a leading financial institution – consistently partakes in initiatives and protocols that serve its customers and satisfies their requirements. Banque Misr also strives to catalyze national and strategic development, owing to its firm belief in sustainability and continuous development; whereby more than twenty-two thousand employees work hard to satisfy customer requirements, together with achieving sustainable development for Egypt.