Banque Misr launches the first integrated program “that” to support Egyptian women in cooperation with the International Finance Corporation

Iman Al-Wasili and Fathi Al-Sayeh

Banque Misr recently launched the “That program As the first integrated financing program to support women entrepreneurs in cooperation with the International Finance Corporation; The program includes a variety of financial and non-financial services for business owners, such as financing, training, business development and other services. It is worth noting that the “Zhat” program has multiple financing benefits that suit all needs and activities, which amounts to 6 million pounds, and the repayment period is up to

A month with a competitive interest rate and the simplest terms and procedures.

It is worth noting that it is possible to All entrepreneurs from the Egyptian community groups (males – females) benefit from the integrated financing program, and there are many financial services and preferential benefits provided by the program, including; Postponing the installments during the maternity leave for a period of three months (especially for females), exemption from the periodic expenses of the savings account, exemption from the issuance of the immediate debit card for individuals / companies, and the granting of a free personal insurance policy against accidents throughout the loan period, in addition to the possibility of issuing a card Youth for children is linked to the client’s account, and the possibility of transferring employee salaries, in addition to the program providing many services and non-financial solutions, including; Obtaining the online banking service and electronic wallet BM Wallet) ) free of charge, and providing a package of advisory and non-financial services that suit your project This is in addition to enjoying the services and benefits offered by Banque Misr Centers for Business Development, in light of the application of the terms and conditions regulating this.

This is as a result of Banque Misr entering into a cooperation protocol with the International Finance Corporation to provide banking services to support women entrepreneurs in September 2018; Which is the first agreement of its kind in Egypt; Which aims to increase the spread of banking services directed to women in Egypt, as the agreement aimed to work on the growth of the number of companies led by women within the banking services group for small and medium enterprises, as well as providing financial services to all female entrepreneurs in the country

Banque Misr, through this protocol, seeks to be the leading bank in the field of banking services provided to women; Where the protocol was based on the International Finance Corporation conducting a market study addressing the needs of women in business while providing global best practices, preparing and implementing a sustainable business model for the banking services program for women, and assisting informal micro-enterprises – which are often owned or led by women – to Moving from the informal sector to the formal sector to support financial inclusion efforts.

Mohamed El-Etreby, Chairman of Banque Misr, commented: “Women entrepreneurs make up a large part of small-sized business enterprises in Egypt, but they find it difficult to obtain the financing and support necessary to manage and develop their businesses, and we aim by launching the program and cooperating with The International Finance Corporation, to expand our reach to this segment and support companies in Egypt and help them grow, provide job opportunities and drive economic growth; Where it constitutes a program with an opportunity to include informal businesses to enter the official business..

“Today, IFC and Banque Misr are reaping the fruits of their long-term partnership,” said Yasmine El Heni, Country Officer for Egypt and Acting Regional Director of the International Finance Corporation in Egypt and Libya. Three years of an innovative program to promote and develop the field of entrepreneurship in Egypt. Our goal is to help level the playing field and provide all entrepreneurs with the solutions they need to create successful businesses.”

Dr. Valerie Leste said, Head of Cooperation at the Embassy of Switzerland in Egypt: “The launch of financial products designed specifically for women is imperative for women’s financial inclusion and economic empowerment. Switzerland is proud to support Banque Misr’s pioneering endeavors to do so and launch it on Egyptian Women’s Day.”

Banque Misr, being one of the pillars of the national economy, believes in the importance of financial inclusion because it has become an imperative and not an option, and that For his role in improving economic growth rates, the safety of banking and financial stability and social development, and he carries out many activities that ensure the achievement of financial inclusion, including; Participation in many initiatives and protocols that would serve the members of society by creating job opportunities and employing citizens and advancing the economy forward, which in turn is reflected in increasing economic development. Since its establishment, the main mission of Banque Misr is to provide banking services to every Egyptian on the land Being a national financial instrument that is relied upon to implement and support national and strategic development in various social and economic fields.