Business Hub _ Cairo
The Central Bank of Egypt announced that there are 11 banks participating in the presidential initiative “Dignified Life” under the auspices of the Central Bank
These are the National Bank of Egypt, Banque Misr, Cairo Bank, Agricultural Bank, Qatar National Bank, Commercial International Bank, Alexandria Bank, United Bank, Export Development Bank, Housing and Development Bank, and Saib Bank.
In terms of the infrastructure of banking services that were provided in those areas, The CBE indicated that 294 new ATMs have been installed. In addition to distributing about 3,000 QR codes and point of sale (POS) to merchants, As well as the development of 71 branches of banks and the establishment of 5 new branches.
As part of the efforts to expand financial inclusion and digital transformation, Banks opened about 19,000 bank accounts, and 6,500 mobile phone wallets, and more than 29,000 prepaid cards (a feature), In addition to about 10,000 internet bank accounts, spreading the culture of using electronic payment, transfer and digital financial services.
In order to provide all aspects of support and assistance to farmers, producers, owners of crafts and projects, The banks participating in the initiative launched a number of financing programs for development projects to improve the standard of living in the targeted areas and create job opportunities. Among these programs are: The Bab Rizq project, the project for financing agricultural crops, the national project for veal, and the project for financing rural activities and agricultural development.
The efforts of the banking sector during the period from July 2021 to March 2022 in order to contribute to the achievement of comprehensive sustainable development in these regions, resulted in about providing financing for about 17,000 small and micro projects, With a total value of about 826 million pounds, directed to marginalized groups