Banque Misr and Talabat Misr signed a cooperation protocol with the aim of providing financial and non-financial solutions and products for micro and small projects, on Monday, June 19, 2023. The signing ceremony was attended by Mr. Akef El Maghraby, Vice Chairman of the Board of Directors of Banque Misr, and Mr. Amr Demerdash, Head of Small and Medium-Sized Enterprises and Microfinance Sector at Banque Misr. They signed the agreement alongside Ms. Hadeer Shalaby, the Executive Director of Talabat Misr, in the presence of distinguished leaders from the bank and the company The protocol was signed due to the significant role played by both parties in supporting micro and small enterprises and the financial inclusion strategy.

The cooperation protocol aims to facilitate financing for Talabat Misr's partners, allowing them to secure financing up to EGP 2 million for their small and micro projects, with flexible conditions that align with their businesses, within 5 working days. Additionally, the protocol aims to open online business accounts for them within just 24 hours by providing 3 documents and complying with the terms and conditions governing these services. By offering financial solutions and a range of digital services, the protocol also supports local projects in Egypt as part of the bank's commitment to promoting digitization and supporting small and medium-sized enterprises. The partnership ultimately aims to foster the growth of restaurants and brands at various stages of their operations.

Mr. Amr Demerdash, the Head of Small and Medium-Sized Enterprises and Microfinance Sector at Banque Misr, emphasized that the recently signed cooperation is in line with the Banque Misr's strategy to support and assist projects of different sizes. Banque Misr attaches great importance to providing all financial and non-financial services that meet the needs of this sector. The portfolio of small and medium-sized enterprise financing accounted for 27.5% of the total credit portfolio by the end of December 2022. This positively reflects on the national economy and aligns with the directives of the Central Bank of Egypt and the state's efforts to promote this sector, improve economic indicators, encourage local production, and reduce the import bill.

The signing of this protocol by Banque Misr aligns with its strategy to support and develop small and micro projects. The bank plays a leading role in financing these projects through distinguished financing mechanisms that address both financial and non-financial requirements of various sectors in different economic activities, especially in the field of financial and digital services. It provides the necessary support to meet the needs of projects of different types. Banque Misr always seeks to participate in various initiatives and protocols aimed at expanding the financing of the business sector, in addition to providing technical, financial, and non-financial advisory services to customers, believing that these projects are the engine of economic growth and its foundation.

Hadeer Shelbey, the Executive Director of Talabat in Egypt, stated: "We are on a mission to support more than 10,000 partners through our technologies, partnerships, and our position in the business ecosystem. Our partnership with Banque Misr reflects our commitment to facilitating access to the financial resources our partners need to grow and maintain the flow of capital in a competitive market. In addition to contributing to the achievement of strategies to support small and medium-sized projects and financial inclusion in Egypt, the partnership also provides digital banking services to Talabat partners, facilitating seamless transfer operations and account management through the services provided by BM Online Business and BM Merchant application, which enables secure payments through QR code scanning."

Banque Misr and Talabat consistently work to improve their services, achieve lasting success, and actively participate in providing services that meet the needs of their customers. They prioritize sustainable development and prosperity in Egypt, as evident in their values and business strategies.