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Banque Misr Concludes ESCROW Agreement with SODIC and New Urban Communities Authority for 500-Acre Development in New Zayed
Banque Misr has concluded an escrow agreement with SODIC and New urban Communities Authority (NUCA) for the 500-acre development in New Zayed; initiating a new strategic partnership between SODIC and the Bank. The event was attended by various Executives at Banque Misr, NUCA and SODIC. New Zayed is considered a natural extension to the upscale neighborhood of Sheikh Zayed, with the area enjoying quick and convenient access to Cairo's eastern suburbs and Egypt's North Coast; thanks to the newly developed surrounding road network, while being in close proximity to Sphinx Airport and the Grand Egyptian Museum, which is expected to breathe new life into the vicinity.

The conclusion of this agreement is looked upon as complementing the success met by Banque Misr in its corporate banking sector, which was inaugurated in October 2017. The sector aims to serve corporate customers by availing innovative and cutting-edge digital banking solutions; enabling clients to manage their banking activities in a seamless and highly secure manner. Worth noting is that the Bank has recently attained top classification both as a pioneer of the Egyptian market and as the best service-provider to non-financial institutions – Egypt 2019, according to Euro Money magazine's survey of corporate cash management solutions. This comes as a result of the efforts exerted by the Bank in this domain. Moreover, Banque Misr was also named the "Fastest Growing Bank in Trade Financing in Egypt" for the years 2018 and 2019; and the "Fastest Growing Bank in Cash Management – Egypt 2018" by Global Banking and Finance Review magazine.

Mr. Hossam Abdel Wahab – Deputy Chairman at Banque Misr – asserted the Bank's eagerness towards consistently upgrading and developing its services and products, in line with the needs of customers, for the purpose of availing its offerings in a more efficient manner. He reiterated the importance of customer satisfaction and the Bank's appreciation of its clients, whom it considers as partners in success.

Mr. Magued Sherif – SODIC Managing Director – stated that, "We are extremely pleased with initiating this new banking relationship with Banque Misr, one of the largest and most reputable banks in Egypt. This agreement marks the beginning of a long-term partnership with the Bank and we foresee many avenues through which we may further grow this cooperation moving forward."

Worth noting is that Banque Misr operates as a catalyst of national and strategic development, owing to its firm belief in sustainability and continuous progress. The Bank employs some 18,000 employees, who strive to fulfil the needs of customers, making a mark in customer service and all business areas in the various markets within which the Bank operates; for the ultimate purpose of achieving sustainable development.