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Banque Misr Participates in International Financial Inclusion Week and International Savings Day Under the Patronage of the Central Bank of Egypt
19/10/2020

Owing to Banque Misr’s keenness on supporting state efforts towards financial inclusion and in line with the vision of Egypt 2030 for achieving sustainable development, the Bank actively participated in the events of International Financial Inclusion Week and International Savings Day under the patronage of the Central Bank of Egypt. This comes in light of the Bank’s belief in the importance of achieving financial inclusion, which aims to enable access of all segments of society to financial products and services that fulfil their various needs. These include savings accounts, current accounts, payment and transfer services, insurance, financing and credit. The Bank offered various benefits and free offers to serve all customers, especially youths - being the largest segment of society - throughout the event, whose activities continued from 15th to 31st October.

Banque Misr provided a multitude of financial products and services, offering benefits and free promotions as part of International Financial Inclusion Week; such as opening accounts for new customers without administrative fees and without a minimum deposit, issuing “Meeza” debit card and the classic debit card on a complimentary basis. Customers between the ages of 16 and 30 were able to obtain BM or GO cards on a free-of-charge basis; while customers under 16 years of age were exempt from the administration fees of issuing the prepaid TEENS card, which carries numerous offers and discounts throughout the campaign. This is in addition to the presence of the Bank’s representatives at branches in some 560 locations; including but not limited to universities, schools, sports clubs, youth centers, shopping malls and other venues throughout the event in order to provide products and services and open banking accounts.

Worth noting is that Banque Misr is considered one of the first banks contributing to financial inclusion awareness, since its launch in Egypt in 2014 under the patronage of CBE, through its membership in the National Committee for Financial Education and its support for the national financial education initiative “Ashan Bokra”. The initiative seeks to educate all social segments financially in order to incorporate all those operating beyond the financial sector and to abolish the informal economy. This is in addition to endorsing various events and functions leading to the positive and promising outcomes reaped today, together with the constant support of CBE – from financial education to financial inclusion, to digital transformation and other significant initiatives. In parallel, Banque Misr is keen on keeping customers and non-customers financially informed and educated by partaking in various initiatives in collaboration with relevant entities; focusing on women, youth and entrepreneurs. The Bank also spares no effort in developing and devising banking products that suit all age categories, while keeping abreast of current technological innovations. This is for the purpose of satisfying customer expectations and incorporating marginalized segments in the hope of achieving financial inclusion.

In alignment with the policies of the National Council for Payments – aiming for the reduction of banknotes beyond the banking sector and supporting the use of alternative e-payment channels – Banque Misr offered various solutions for the automation of salary payments; targeting business, public and private sector companies. The solutions provide a suite of salary transfer products (salary cards – salary accounts) in addition to the online payment of taxes and customs. This is in addition to the availability of CPS service for companies, which allows customers to pay taxes, customs and other government fees electronically, from the comfort of their offices. The Bank has also supported SME customers via the “Nilepreneurs” initiative, under the patronage of CBE, which seeks to support young entrepreneurs and encourage start-ups in various economic fields.