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Banque Misr signs a cooperation protocol with Kader Factory for Developed Industries to support electronic collection services

Mar 22, 2023 12:00 PM

The Kader Factory for Developed Industries and the Banque Misr have formalized their partnership with a cooperation protocol. Mr. Mohamed El-Atreby, Chairman of the Board of Directors of Banque Misr, and Major General Mokhtar Abdel Latif, Chairman of the Arab Organization for Industrialization, observed the signing of the protocol. The protocol was signed by the Vice Chairman of the Board of Directors of Banque Misr, Mr. Akef El Maghraby, and Chairman of the Board of Directors of Kader Factory for Developed Industries, Major General Dr. Amr Abdel Aziz, in the presence of Mr. Ihab Dora, Head of Branches and Retail Banking Sector at Banque Misr, as well as a distinguished group of executives from Banque Misr and Kader Factory for Developed Industries.

The signing of this protocol coincides with the state's focus on digital transformation and mechanization, as it mandates the use of numerous electronic services, such as electronic collection through electronic points of sale (P.O.S.) at the factory's headquarters and affiliated exhibitions and the connection between Banque Misr and the factory's electronic infrastructure for collecting the purchase price of products electronically. In addition to the product installment services provided, customers with credit cards issued by Banque Misr will be able to take out loans on durable items produced by the factory.

Following the signing, Mr. Mohamed El-Etreby, Chairman of the Board of Directors of Banque Misr, commented that the signing of this protocol is part of Banque Misr's pioneering role in the field of electronic payments. As part of its digital transformation strategy, Banque Misr is working to integrate advanced technologies into its wide range of dealings, with the ultimate goal of facilitating the payment process for Egyptian citizens by following the guidelines set forth by the National Council for Electronic Payments. Banque Misr is striving to make the transition from a conventional bank to a bank that pioneers the digital transformation of the Egyptian banking sector by encouraging the use of electronic means and channels for payment instead of cash. The bank promotes electronic payment solutions to increase financial inclusion and make banking and financial services available to all sections of society, with the firm belief that incorporating digital transformation into the banking system will further contribute to improving the provision of banking and financial services.

Mr. Major General Mukhtar Abdel Latif, Chairman of the Arab Organization for Industrialization, stated that the protocol signed today between the Qadir Factory for Developed Industries, one of the Arab Organization for Industrialization's factories, and the ancient Bank of Egypt translates into cooperation in the field of industry, where armored money transfer vehicles and mobile banking vehicles equipped with On ATMs to serve remote areas, villages, and hamlets are manufactured, and to work together in the field of selling products of the Arab Organization for Industrialization to Banque Misr employees and customers in installments at suitable discount rates, as a joint contribution from the Arab Organization for Industrialization and Banque Misr.

The protocol was signed as part of Banque Misr's ongoing efforts to improve the services it provides to customers and broaden the number of those services that can be accessed electronically, which provides the bank’s customers with maximum benefit from services using technology and secured systems. To further its success, Banque Misr strives to actively engage in services, as well as join initiatives and protocols whose stated goals are to provide services that are in line with the requirements of all types of customers. Meanwhile, Banque Misr's pioneering role in bolstering Egypt's economy is complemented by the bank's work values and strategies, which always show its dedication to sustainable development.