Banks

The National Bank of Egypt signs a cooperation protocol with AgriSoft Information Technology Company

Eman Al-Wasly

The National Bank of Egypt signed a cooperation protocol with AgriSoft

20221130 Following the signing, Yahya Aboul Fotouh, Vice President, confirmed The Board of Directors of the National Bank of Egypt emphasized the pioneering and growing role of the National Bank of Egypt in supporting and developing small and medium enterprises and creating new job opportunities, which contributes to addressing the problem of unemployment in areas that affect the basic needs of citizens, which comes on top of agricultural development projects and livestock and support And financing micro, small and medium projects by providing distinct financing mechanisms that meet all the financing needs of all projects in all sectors of economic activity, whether from its own resources or in cooperation with local and international financing institutions.

pointing out that the National Bank of Egypt has always supported entrepreneursWhether young people or those who play an important role in the development of the Egyptian economy, as the bank is keen to provide all the financing requirements necessary for various financing needs, whether in the form of short or medium-term loans, with the bank’s keenness to encourage modern technology channels in various sectors.

20221130 For his part, Tarek Hassan, Head of the Small and Medium Enterprises Group at the National Bank of Egypt, indicated that the protocol is an extension of the efforts of the National Bank of Egypt in providing financial and non-financial solutions. To meet the needs of its customers and its constant endeavor to support and develop small and medium enterprises in various sectors, as the bank provides specialized financing solutions for organizations of all sectors, including what was included in the Central Bank of Egypt initiative to provide financing for small and medium enterprises.2022

Adding that the signing of this protocol will allow the agricultural sector projects of all kinds the necessary financing for the owners of various projects that fall under small and medium enterprises according to the definition of the Central Bank of Egypt, which enhances the ease and efficiency of operations which creates opportunities for expansion for existing business, providing financing, advisory and training services, and benefiting from the company’s extensive experience in the agricultural sector.

as well as providing documentary credits and letter services The guarantee, to help companies achieve sustainable growth in various sectors through specialized units in the bank’s branches located in all governorates.

Alaa Youssef, Vice Chairman and Managing Director of AgriSoft, confirmed that the partnership with the National Bank of Egypt is one of the most important steps for the company’s launch in the Egyptian market, and that financing projects for small investors in agricultural activity, especially financing purchases of production requirements, is one of the priority projects in the company, as it owns The company has great experience and expertise in the field of databases for agricultural, animal and poultry production requirements companies, where the company, through its electronic applications owned by it, such as the “Agricultural Database” platform and the “Shahbandar Al-Tajjar” application, is able to market and sell agricultural production requirements using the system of buying now and paying later with provision of periods Payment up to a year without any interest on farmers or merchants.