Leveraging its pivotal role in financing small and micro enterprises and facilitating electronic payments, Banque Misr has recently entered into a cooperation protocol with Zamit. This strategic partnership aims to offer financial and non-financial solutions and products tailored for micro and small enterprise owners. The protocol was officially signed by Mr. Ehab Dorra, Head of Branches and Retail Sector at Banque Misr, and Mr. Amr Demerdash, Head of Small and Medium Enterprises and Microfinance Sector at Banque Misr. Also present during the signing ceremony was Mr. Nader Morris, CEO and Co-Founder of Zammit, alongside Mr. Mohamed El-Sabban, Head of Innovation and Strategic Projects at Banque Misr, and a group of leaders from both organizations.

Zammit stands out as one of the promising companies in the e-commerce sector, having been established in 2020 to engage in e-commerce, e-marketing through the internet, and the creation, design, and management of corporate websites. It's noteworthy that Zammit is among the startups that have received support from Banque Misr and was selected as part of the "BM Accelerator Program." This intensive 6-month program is designed to bolster promising financial technology companies and investments. It equips founders with the essential business tools to nurture their projects, connects them with a network of experts, mentors, and investors both inside and outside the bank. This fosters the growth potential of these companies and broadens their access to additional investments.

Mr. Ehab Dorra, Head of the Branches and Retail Banking Sector at Banque Misr, emphasized that this collaboration with Zamit aligns with Banque Misr's strategic vision of leading the future of digital payments. Banque Misr is dedicated to localizing advanced technological services in all its interactions, ensuring it keeps pace with global developments. Technological services have become a necessity for the continued leadership of the Egyptian banking system. The introduction of digital transformation elements into the banking system will further enhance the provision of banking and financial services, contributing to the promotion of economic and financial development and supporting financial inclusion efforts for a broader segment of society.

Dorra also noted that Banque Misr achieved remarkable growth rates in 2022. This includes a 91% increase in the total electronic payment acceptance portfolio. The bank now boasts 1.5 million electronic wallets, with over 2 million QR code transactions (an increase of 146%), 440 thousand points of sale (a 79% increase), and more than 2000 websites (a 100% increase). The bank's expansion into digital services highlights its commitment to entering into numerous agreements and partnerships aimed at encouraging electronic payment solutions, thus enhancing financial inclusion across all sectors and working towards a cashless society.

Mr. Amr Demerdash, Head of the SME and Microfinance Sector at Banque Misr, commented after the signing that this collaboration is a critical step in realizing Banque Misr's strategy to support the SME and microfinance sector. The bank attaches great importance to this sector, providing a comprehensive range of financial and non-financial services tailored to meet customer needs. Banque Misr has been one of the pioneers in adhering to the Central Bank's requirements, with the SME financing portfolio reaching 27.5% by the end of December 2022. This progress aligns with the directives of the Central Bank of Egypt and the state's efforts to elevate the sector, improve economic indicators, boost economic development rates, promote local products, and reduce the import bill.

Mr. Mohamed El-Sabban, Head of the Innovation and Strategic Projects Sector at Banque Misr, explained that the bank has introduced several models of cooperation with financial technology companies. This initiative aims to keep Banque Misr at the forefront of the banking sector by providing a unique and distinctive customer experience. El-Sabban also highlighted that the bank is one of the founding and shareholder partners in the NCLUDE Fund for Investment in Promising Financial Technology Companies. He emphasized the significance of Banque Misr's partnership with Zammit, citing it as a prominent example of financial institutions collaborating with startups. This partnership is expected to make a significant contribution to supporting the small, medium, and micro-enterprises sector by offering financial and non-financial solutions and services to these businesses.

Mr. Nader Morris, CEO and Co-Founder of Zammit, expressed his satisfaction with the strategic cooperation between Banque Misr and Zammit. This collaboration will empower them to provide innovative financial and non-financial solutions to micro-entrepreneurs. Their commitment extends to supporting entrepreneurs and stimulating the local economy. Through this partnership, they aim to promote the country's economic and social development, leveraging their combined expertise in the banking sector and fintech.

As one of the cornerstones of the national economy, Banque Misr is committed to offering a diverse range of digital payment solutions and credit products tailored specifically to meet the needs of projects of all sizes. The bank actively participates in various initiatives and protocols aimed at expanding project financing. Moreover, it provides technical, financial, and non-financial advisory services to project customers, recognizing that these projects are the driving force behind economic growth. Banque Misr consistently seeks to enhance the quality of its services and maintain its long-term success, actively participating in services that cater to its customers' needs. The bank's core values and strategies consistently reflect its commitment to Egypt's sustainable development and prosperity.