Banque Misr, NCW Sign Cooperation Protocol to Enhance Financial Inclusion for Egyptian Women

by Nada Khaled

On Monday, November 27, the Chairman of the Board of Directors of Banque Misr, Mr. Mohamed El-Etreby, and the President of the National Council for Women, Dr. Maya Morsy, signed a cooperation protocol to empower women economically and enhance the financial inclusion of Egyptian women within the framework of Banque Misr’s pioneering role in the field of financial inclusion.

The newly signed protocol aims to empower Egyptian women economically and enhance their financial inclusion within the governorates, centers, and villages targeted by the National Project for the Development of the Egyptian Rural with a Decent Life and the National Project for the Development of the Egyptian Family during the period from 2023 to 2025, which amounts to approximately 3,500 villages and 106 centers in 20 governorates.

The protocol is supported by the Central Bank of Egypt, and it states that the targeted women will receive training on entrepreneurship and financial education, in addition to implementing the banking simulation “Tahwesha” and digital lending and savings groups.

Moreover, the benefited women will also receive financial products and services designed specifically for women.

The signing ceremony took place in the presence of Mr. Akef Al-Maghrabi, Vice Chairman of the Board of Directors of Banque Misr; Ms. Hend Fahmy, Head of the Financial Inclusion and Real Estate Finance Sector at Banque Misr; Mr. Maged Abdullah, Head of the Branches Sector at Banque Misr; among a distinguished group of leads from Banque Misr and the National Council for Women.

The signing of this protocol comes as a continuation of the successes and achievements of Banque Misr in the field of women’s economic empowerment, as the bank launched the “Zat” program as the first integrated financing program to support women entrepreneurs.

The program includes a wide range of financial and non-financial services for business owners, such as financing, training, business development, and other services. Through this program, the bank strengthens its pioneering role in the field of banking services provided to women.

It is worth mentioning that the bank is always keen to strengthen the state’s efforts to achieve financial inclusion and encourage partnerships between the various sectors of Egyptian society, governmental, civil, and private, by participating in many initiatives and protocols that will serve members of society to provide a successful model that will later expand to all levels and sectors.

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