Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, and Minister of Foreign Affairs, Emigration, and Egyptian Expatriates’ Affairs, Dr. Badr Abdelatty, witnessed the signing of a cooperation protocol between Banque Misr, the Ministry of Housing–represented by the New Urban Communities Authority (NUCA), and eFinance.
The signing ceremony was attended by Mr. Hisham Okasha, CEO of Banque Misr; Mr. Ibrahim Sarhan, Chairman of eFinance; Mr. Hossam El-Din Abdel Wahab, Deputy CEO of Banque Misr; and Mr. Ahmed Issa, Deputy CEO of Banque Misr.
Mr. Ihab Dora, Head of Branches and Retail Banking at Banque Misr, signed the protocol on behalf of the bank alongside Mr. Mohamed Ragaai, Vice Chairman of NUCA for Financial and Administrative Affairs, and Eng. Hossam El-Gouly, Managing Director of eFinance.
The signing took place on Sunday, February 23, 2025, in the presence of senior executives from participating entities.
The protocol aims to facilitate payment and collection processes for the "Your Home in Egypt" initiative, launched by the Ministry of Housing, Utilities, and Urban Communities and NUCA in cooperation with the Ministry of Foreign Affairs, Emigration, and Egyptian Expatriates’ Affairs. The initiative offers approximately 5,000 residential units in select new cities, and payments will be collected in US dollars from Egyptians working and residing abroad.
Payments will be processed electronically through the initiative’s dedicated website, which is the first of its kind, developed in collaboration with Banque Misr, the exclusive banking partner for the initiative. Users can view available units through the platform, complete purchase procedures, and make payments in US dollars. The payment process supports multiple electronic collection channels, including international bank cards from outside Egypt, global money exchange offices, and SWIFT bank transfers.
Eng. Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, noted that the signing of the tripartite cooperation protocol between NUCA, Banque Misr, and eFinance, provides advanced electronic payment solutions that offer secure and convenient payment options across multiple channels, which facilitates the transfer of required funds for housing unit reservations from various countries worldwide.
He added that the initiative’s dedicated website was developed in collaboration with Excellent (a subsidiary of United Media Services), Banque Misr, and eFinance. The platform allows users to upload required documents after completing their transactions, whether through bank transfers, exchange offices, or direct reservation and payment with international bank cards on the website. This integration provides diverse, fast, secure, and trusted payment options, ultimately saving customers' time and effort.
Eng. Sherif El-Sherbiny also highlighted the strong demand for the "Your Home in Egypt" initiative within the first few hours of its launch. The reservation process for offered units began last Thursday, and in just 48 hours, total collected payments reached approximately $2.5 million through the available channels, whether electronic payments or bank transfers.
Mr. Hisham Okasha, CEO of Banque Misr, stated that the signing of this protocol aligns with the bank’s pivotal role in supporting the Egyptian economy and reinforces the Egyptian government’s efforts to facilitate services for Egyptian expatriates, particularly by providing housing opportunities through the "Your Home in Egypt" initiative. This initiative provides premium real estate opportunities for investment or residence and facilitates payment and collection mechanisms for Egyptians abroad through various digital payment channels. The initiative strengthens the connection between Egyptian expatriates and their homeland while positively impacting GDP through an increase in remittances, which remain a key source of foreign currency and contribute to sustainable economic development.
Okasha further emphasized that this protocol builds upon Banque Misr’s success in the field of digital payments and supports its digital transformation strategy. By integrating advanced financial technologies into its services, the bank strives to simplify payment processes for Egyptians, keep up with global advancements, and significantly enhance the quality of financial and banking services for its clients.
Mr. Ibrahim Sarhan, Chairman of eFinance for Financial and Digital Investments, stated that this protocol complements the group’s support for Egypt’s comprehensive digital transformation across various economic sectors as well as national projects and initiatives.
He highlighted eFinance’s extensive expertise in electronic payment collection, in alignment with both governmental financial and accounting systems as well as banking frameworks. Mr. Sarhan further elaborated that the company leverages its secure, encrypted network infrastructure, developed in accordance with national security standards, which positions it as a key contributor to the success of the "Your Home in Egypt" initiative, aiming to support the national economy while serving Egyptians abroad.
It's worth noting that Banque Misr is dedicated to providing advanced, accessible financial and banking services that cater to the needs of all client segments, both domestically and internationally. The bank works continuously to maintain long-term success and actively participates in initiatives and partnerships that benefit Egyptians at home and abroad.
As part of the "Your Home in Egypt" initiative, Banque Misr is focused on facilitating payment and collection processes for Egyptians residing abroad, sustaining the government's efforts to support expatriates and address their needs. By doing so, the bank reinforces its commitment to national initiatives, reflecting its values and strategic framework, which consistently align with Egypt’s sustainable development and economic prosperity.
