Banque Misr stressed that the implementation of financial inclusion is a priority for banks in Egypt in the coming period, noting that efforts of the CBE and banking sector have to translate into more effective steps to mark a leap in the Egyptian economy.
The bank added that during the events of Financial Inclusion Week, it printed a banner for the events and placed it in front of all the branches. It also printed a flyer introducing the concept of financial inclusion and distributed them among the bank’s clients. The flyer was also posted on the website of the bank and its Facebook page.
It noted that it is now present in 50 youth centres across the republic, offering youth to open different types of bank accounts for free, as well as issuing electronic cards with no fees at all. The bank will continue its presence with mobile units in Cairo University in order to offer its services.
Banque Misr also noted that it has 580 branches in Egypt and the Middle East, adding that it aims to open 275 more branches over the coming three years, in accordance with the CBE’s financial inclusion plan. The new branches include 255 mini branches.
Moreover, the bank adopted several programmes for education and financial inclusion, in order to increase and strengthen the financial and banking knowledge among non-clients. This aims to help the society turn into a cashless society, merge the informal economy with the formal economy, and enhance saving value.
In this regard, the bank has participated in several initiatives with the CBE, including “You Must Have a Bank” in 2009 and “For Tomorrow” in 2014, and it sponsored the financial education campaign for 250,000 students, next to participating in the activities of the Global Money Week in March of each year.