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Banque Misr Signs Collaboration Protocol with Sinai University to Provide Electronic Collection and Fee Payment Services; Endorses Competent Graduates and Students
01/10/2020

Banque Misr recently signed a collaboration protocol with Sinai University, to render electronic collection and tuition fee payment services, in addition to endorsing the University’s students and graduates by providing them with training and employment opportunities. The protocol was signed by Mr. Akef El Maghraby – Vice Chairman of the Board of Directors of Banque Misr and Mr. Mahmoud Ratib – Vice Chairman of the Board of Trustees of Sinai University, in the attendance of SU leadership and Banque Misr executives. The service allows students to pay tuition fees through the use of prepaid cards (Meeza) issued by the Bank to students on a free-of-charge basis to pay college expenses through the University’s website or POS devices provided by the Bank to the University’s campuses in  Arish and Qantara Sharq, which ​​serve some 20 thousand students. Banque Misr is keen on providing all the required assistance driving this service, by equipping universities with ATMs offering the latest technologies. The protocol also includes providing electronic payment screens that enable the University to pay taxes and insurance, with arrangements being underway to establish a branch within the University to serve Faculty, staff and students.

 

The signing of the protocol comes within the framework of Banque Misr's plan to expand in the field of electronic collection online, while being aligned with the state's policy to disseminate a culture of financial inclusion, activate electronic payment and collection services and gradually transform to a cashless society by rolling out a culture of electronic payment card transactions. Worth noting is that the Bank has concluded agreements with several private universities in this regard, including 6th of October University and the Egyptian Russian University.

 

The signing of this protocol also comes within the framework of Banque Misr's keenness to attract distinguished talent to work within its ranks, in order to enhance its competitiveness and to preserve its leadership among the banks of the Egyptian banking sector, whereby it is keen on developing young talent possessing basic and technical competencies at the level required for banking jobs. Banque Misr has always attached great importance to the development and advancement of human resources, believing that they are the most important assets of the institution; and that the strength of institutions lies in their enlightened talent. The signing of this protocol also asserts the pioneering role of Banque Misr in the field of corporate social responsibility – being one of the key pillars in which it believes – through the creation of job opportunities for youth; especially since the Bank has consistently encouraged partnerships between all sectors of society, presenting a successful model to be emulated in order to contribute to achieving sustainable development.

 

It should be pointed out that Banque Misr has recently made strides in the field of electronic payments, setting up an integrated system for the automation of all government payments – whether those targeting employees of the state’s administrative apparatus represented in the automation of their salaries, or those related to the proceeds due to government agencies (taxes, customs). The Bank has also provided a service for affecting government payments owed by companies through their online CPS (Corporate Payment Service).

 

These strides are an extension of Banque Misr’s achievements in the field of electronic payment cards, being the first Egyptian bank to provide this type of service to customers, which it worked to develop through the use of the latest global systems in the field of electronic payment technology, qualifying it to acquire a PCI-DSS certificate – the first of its kind to be awarded to an Egyptian bank. Among the banking products in which the Bank has expanded are electronic payment cards of various types, especially prepaid Meeza cards, which are issued to customers once applied for, to perform financial transactions and affect government payments electronically. This has greatly assisted in expanding the use of this type of card in a way that supports the concept of financial inclusion and incorporating all financial transactions within the formal banking system. As such, the number of issued cards totaled some 1.6 million, with the value of transactions estimated at EGP 1.2 billion.

 

Banque Misr consistently seeks to introduce innovative electronic payment services and other banking offerings so as to facilitate customer transactions and fulfil their varying needs.