The Egyptian Post launches microfinance disbursement services in cooperation with Al-Khair Microfinance Company
Eman Al-Wasli February 2, 2023: Sherif Farouk, Chairman of the Board of Directors of the National Postal Authority, witnessed the signing ceremony of a cooperation protocol between Egypt Post and Al-Khair Microfinance Company, with the aim of providing microfinance services through post offices spread throughout the Republic using the latest Financial services technology, by relying on the great capabilities possessed by the Egyptian Post, represented in the infrastructure and the wide geographical spread of post offices, in the presence of all executive leaders from both sides. 506 The protocol was signed by Khaled Emam, Vice Chairman of the Egyptian Post Board of Directors for Financial Inclusion, and Hana El Helaly, Managing Director of Al Khair Microfinance Company. Sherif Farouk, Chairman of the Board of Directors of the Egyptian Post, affirmed that the signing of this protocol comes within the framework of supporting the state’s plans aimed at achieving Financial inclusion for the various segments of society, providing different financing models for all sectors of economic activities in Egypt, encouraging the culture of using microfinance, and motivating young people to adopt the idea of self-employment. From customers in various regions, villages, and hamlets in all governorates by benefiting from the wide spread of post offices, which number about 4,300 post offices spread all over the Republic, ensuring that microfinance services reach all citizens. With ease and ease, as the citizen can, through post offices, register a request to obtain financing and disburse the financing granted by the company using the customer’s national number or an account number in the Egyptian Post or through prepaid cards. The protocol also enables customers to pay the installments due on them, whether the collection is in cash. or deduction from the account.
Sherif Farouk explained that this protocol comes within the framework of The Egyptian Post’s strategy to build a reliable platform to provide financial inclusion services at a high level of quality and at an affordable price, which contributes to supporting the state’s policy in achieving financial inclusion and facilitating citizens’ access to microfinance services and collecting installments with ease, in addition to providing many financial services. And other projects that enhance the ability of young producers and owners of microenterprises to manage their projects. The Egyptian Post also provides international and local postal shipping services. For those who want projects and entrepreneurs through post offices to raise their capabilities to reach the local market and global markets.
For her part, Hanaa El-Hilali, Managing Director of Al-Khair Microfinance Company, said that Al-Khair Microfinance Company is honored to partner and cooperate with the Egyptian Post, one of the most important and oldest economic institutions in Egypt, which witnessed remarkable development at all levels under the leadership of Sherif Farouk, Chairman of the Board of Directors, She explained that this distinguished partnership will allow the clients of Al-Khair Microfinance Company Disbursement of loans and payment of monthly installments in branches of post offices scattered throughout and governorates of Egypt, which contributes to the implementation of the ambitious plan of Al-Khair Company, which aims to spread geographically in my face Tribal and nautical, with a focus on Upper Egypt, the areas most in need, and women To provide for the breadwinner and to facilitate customers and encourage and motivate them to financial inclusion by opening accounts in the Egyptian Post, in a way that guarantees mutual benefit for all parties and transforming the informal sector into the official system of the state, which is reflected in the gross national product. Through this partnership, the company aspires to achieve the goals of sustainable development in combating Poverty, creating job opportunities, encouraging entrepreneurship, and economic and social empowerment of women.