Nasser Social Bank raises the maximum limit for ” mastourah ” to 50 thousand pounds and extends the repayment period to 3 years

Business Hub – cairo

after the remarkable success and societal impact of matourah financing and at the request of the beneficiaries and indicators of success, and based on Nasser Social Bank’s interest in women’s economic empowerment and its contribution to providing a decent life for them to achieve independence and improving the quality of life for them, and its keenness to provide various means of social protection, health care and economic development for Egyptian women, The bank decided to raise the maximum limit for ” mastourah financing ” to 50 thousand pounds and extend the repayment period to 3 years. The financing is granted in the form of projects and not cash obtained after fulfilling the conditions of the grants, provided that the age of the beneficiary ranges between 21 to 60 years. Financing is granted with the lowest distinguished return to encourage The ladies started their own projects.

Mohamed Ashmawy, Vice Chairman and Managing Director of the Bank, stated that Mastura financing is one of the most successful Egyptian initiatives, which is an alliance between the state represented by the Ministry of Social Solidarity and the Long Live Egypt Fund and the banking sector represented by Nasser Social Bank to target Egyptian women, and make a leap in improving the quality of life and work on Economic empowerment, as the bank works to finance women who are able to work, explaining that the initiative has already been implemented on the ground in the year 2017, under direct directives from the President of the Republic, allocating 250 million pounds from the Long Live Egypt Fund for the initiative, where the bank succeeded in financing more than 21,000 projects with a total amount 366 million pounds approximately since the start of the activity.

Ashmawy indicated that Mastura financing succeeded in covering all development projects, as the activities varied between commercial projects that took the lead in implementation, followed by demand for implementation, animal production projects, home projects, industrial projects and service projects, explaining that the bank provides a set of services and procedures that will enable Comprehensive development models for the beneficiaries of financing, where training services are provided on project management, insurance, marketing and distribution to ensure greater chances of success for the funded projects, in addition to providing micro-savings accounts to the beneficiaries and providing advantage cards. Effective customer marketing.