Aligning with Egypt’s national agenda for economic empowerment, First Abu Dhabi Bank Misr (FABMISR) has launched “Al Oula,” a new banking initiative designed specifically to enhance women’s access to financial services.
The Al Oula Savings Account, introduced this week, offers a suite of features aimed at removing traditional banking barriers for women. With a low entry threshold of EGP 1,000 and no minimum balance fees, the account is structured to appeal to a wider female demographic, including first-time savers.
Customers receive a free credit card that includes discounts at beauty salons, clinics, and e-commerce platforms, along with accelerated rewards for everyday expenses like groceries, food delivery, and transportation. The product also includes digital onboarding, allowing women to open and manage accounts remotely.
“This launch goes beyond banking—it’s about building a platform that truly understands and supports women’s evolving needs,” said Mohamed Abbas Fayed, CEO and Managing Director of FABMISR. “Al Oula addresses a longstanding gap in Egypt’s financial sector by offering services tailored specifically for women.”
The rollout comes amid ongoing government efforts to boost women’s financial inclusion. According to the Central Bank of Egypt, the number of financially included women grew modestly from 20.3 million to 20.5 million in the first quarter of 2024. Yet an estimated 12 million women remain outside the formal financial system.
FABMISR, a subsidiary of the UAE-based First Abu Dhabi Bank (FAB), operates 73 branches across Egypt. The parent company is one of the highest-rated financial institutions in the MENA region, with credit ratings of Aa3 from Moody’s, AA- from Standard & Poor’s, and AA- from Fitch, along with featuring in the MSCI ESG Leaders Index and FTSE4Good EM Index.
By combining personalized banking with lifestyle incentives, FABMISR hopes Al Oula will serve not just as a financial tool, but as a catalyst for broader social impact.
