Based on Banque Misr's leading role in financing medium, small, and micro enterprises, both Banque Misr and Reefy Company for Microenterprises Services signed a cooperation protocol to provide financial and non-financial solutions and products to microenterprise owners. This protocol was signed in the presence of Mr. Mohamed Al-Atreby, Chairman of Board of Directors of Banque Misr. The protocol was signed by Mr. Akef Al-Maghrabi, Vice Chairman of Board of Directors of the Banque Misr, and Mr. Ahmed Labib, Managing Director and CEO of Reefy Company for Microenterprises Services, along with several leaders from the bank and the company.

The protocol aims at mutual referrals between both the bank and the company for their clients to provide all financial and non-financial services and solutions. This partnership supports the roles of Banque Misr and Reefy in attracting new segments of micro and small enterprise owners to provide distinctive financing mechanisms that cater to all their financial needs. Additionally, the bank offers its expertise to the company in digital grant models, aiming to localize advanced technological services across its operations, ensuring global development, with the aim of supporting economic growth, enabling marginalized communities to access suitable financial solutions, thus promoting financial inclusion. The bank also provides a range of non-financial services to the company's clients through its Business Development Centers, launched under the "Nile Pioneers" initiative sponsored by the Central Bank of Egypt. Furthermore, the company offers marketing, organizational, technical consultations, and conducts economic studies, providing services in various fields.

Mr. Mohamed Al-Atreby, Chairman of Board of Directors of Banque Misr, stated, "The medium, small, and enterprises is the engine of national economic growth. The bank gives it great attention and continuously seeks to enter various partnerships that aim to support projects of different sizes and help them grow, thus enhancing financial inclusion, providing employment opportunities, and boosting economic growth, in addition to integrating the informal economy into the formal one."

This comes in line with the directions of the Central Bank of Egypt and the state's efforts to support projects as a fundamental driver of economic growth and a cornerstone. As of the end of December 2022, the financing portfolio of small and medium enterprises reached 27.5%, reflecting positively on the national economy, improving economic indicators, increasing economic growth rates, encouraging local production, and reducing the import bill.

Mr. Akef Al Maghraby confirmed that Banque Misr's signing of this protocol is part of its strategy aimed at supporting and developing small and micro enterprises by providing distinct financing mechanisms that meet the financial and non-financial needs of projects in various economic activities. The bank attaches great importance to meeting the needs of clients in this sector.

Mr. Ahmed Labib, Managing Director and CEO of Reefy Company for Microenterprises Services, expressed his delight in signing this significant protocol, given the complementarity of the services provided by Reefy with the role played by the bank in maximizing financial inclusion for all segments of society. This is achieved by fully utilizing the geographic presence of Banque Misr and Reefy Company across the Republic and subsequently providing comprehensive financing programs to a larger number of clients across all of governorates of Egypt, thus enhancing the local economy in many villages and marginalized communities throughout the country.

Labib added that this protocol aligns with the state's efforts to enhance financial inclusion and incorporate a greater number of microenterprise owners into the formal economic system, contributing to supporting the microenterprises sector as one of the fundamental pillars of economic development.

Banque Misr always strives to engage in various initiatives and protocols aimed at expanding the financing of the project sector, in addition to offering technical, financial, and non-financial consulting services to clients. The values and strategies of the bank always reflect its commitment to sustainable development, in line with its leading role in supporting the Egyptian economy.