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Banque Misr launches Egyptian Banking System Model at Ain Shams University

Chairman of Banque Misr Mr. Mohamed Eletreby inaugurated the Egyptian Banking System Model (EBSM) in cooperation with the Faculty of Commerce at Ain Shams University.

The inauguration was held in the presence of Prof. Dr. Khaled Qadri, Dean of the Faculty of Commerce; Dr. Suzanne Hamdi, Head of Financial Markets and Investment Sector at Banque Misr; and Mr. Hesham Talaat, Programs Manager at the Egyptian Banking Institute, as well as a number of professors and media professionals.

The EBSM is an effective way to transfer experiences and applicable knowledge, and to simulate the real-life working environment of the banks operating in the Egyptian banking sector. Thus, Banque Misr sponsored and applied several simulation models of the Egyptian banking sector.

The first was in collaboration with the Faculty of Economics and Political Science at Cairo University. Later, the EBSM was extended to other universities in Egypt, including the German University in Cairo in 2016/2017. The latest iteration was the EBSM at the Faculty of Commerce at Ain Shams University in 2017/2018.

The Central Bank of Egypt and the banking sector are key pillars in achieving financial inclusion, in line with the state's plans. Indeed, economic growth cannot be achieved without the integration of all segments of society into the financial system. Financial inclusion is a fundamental pillar of Egypt's Vision 2030.

Banque Misr considers the ideal of financial inclusion to be a main target in light of its effects on achieving financial and social stability, enhancing growth opportunities, and creating comprehensive and sustainable development in our homeland. As such, the bank aims to offer diverse financial and banking services that will attract new clients from the non-banking segments of the community, serving the state plans towards financial inclusion and the transition towards a cash-free society.

For the past five years, Banque Misr has applied the EBSM, which transfers practical experience alongside the academic studies provided to students through training at the bank's branches on various banking activities. The students can apply these skills themselves through professional training programs that allow them to do so, and they are provided with electronic payment cards, in light of the bank's mission to change the culture to a cashless one. This is in addition to summer internships provided by the bank to university students on an annual basis.

Banque Misr has been a pioneer in spreading the culture of financial inclusion since its inception in Egypt, as it boasts the largest network of branches, with more than 600 branches spread across all governorates of Egypt. Further, it offers a wide range of products that meet all the needs of customers of all ages and incomes. Banque Misr has also implemented the first model "School Bank" in Egypt and the Middle East, with the aim to spread over the upcoming years to be available to more students.