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Banque Misr Introduces Automation to Facilitate Payments to More than 2 Million Beneficiaries in Cooperation with the National Organization for Social Insurance

Banque Misr signed a protocol with the National Organization for Social Insurance to automate the Organization’s payments. The protocol signature took place under the patronage of Dr Ghada Wali – Minister of Social Solidarity and in the attendance of Mr Mohamed El-Etreby – Chairman of Banque Misr. The signature ceremony was also attended by Mr Shehab Ezzat – Head of Transactional Service for Corporate at Banque Misr, a group of Banque Misr leaders as well as a number of officials from the public and private fund and the government fund at the National Organization for Social Insurance.
The protocol signature came within the leading role of Banque Misr in offering the latest in electronic banking services to its customers, and out of the bank’s desire to keep up with the latest changes in the banking field through expanding in offering automated banking services. This is also in alignment with the Central Bank’s mandate to attract new customer segments to the baking sector as part of the financial inclusion initiative and to facilitate on beneficiaries and offer an excellent service to customers. An agreement was reached with the public and private and the government funds at the National Organization for Social Insurance to automate the Organization’s payments for its beneficiaries of both funds, such as the end of service bonus, compensations, and other payments. This, in addition to availing, through Banque Misr in cooperation with the Egyptian Banks Company, the necessary daily cash requirements for cashing offices affiliated to both funds, to facilitate procedures and make life easier for citizens.
The aforementioned comes within the framework of the vision of H.E. the president, Abdel Fattah El-Sisi, that adopted reform to help Egypt become an advanced country through raising performance inside the government administration and solidifying trust in Egypt as part of Egypt Vision 2030.
The new electronic system at the National Organization for Social Insurance will enable the organization to automate its annual payments of around EGP 2.2 million, which will annually benefit more than 2 million beneficiaries who get their receivables from the Organization’s funds. The new electronic system will also significantly help improve the service provided by the National Organization for Social Insurance to its beneficiaries.
Banque Misr is always working towards enhancing the excellence of its services, maintaining its long-term success, and to effectively participate in services that satisfy its customers. The bank’s values and business strategies always reflect its commitment to sustainable development and prosperity in Egypt.
Banque Misr is always keen on adopting and offering all financial products and services that cater to the diverse needs of its customers utilizing state-of-the-art technologies.