Within the framework of Banque Misr's keenness as a leading banking institution to provide services commensurate with the needs of customers, Banque Misr recently signed a cooperation protocol with Visa, the world's leading company in the field of digital payments. The signing ceremony was attended by Mr. Mohamed El-Etreby, Chairman of Banque Misr, Mr. Hossam El-Din Abdel Wahab, Vice Chairman of Banque Misr, signed the protocol with Ms. Malak El Baba, Vice President of Visa and General Manager of the company in Egypt, in the presence of Mr. Shehab Zeidan, Head of Global Transaction Banking and Chief Digital Transformation Officer at Banque Misr, and a distinguished group of Visa and Banque Misr managers. This protocol represents a positive step in the field of corporate payments, providing safe and practical alternatives to control payments and benefit from promising new solutions for economic and financial development.
The cooperation protocol aims to activate the use of cards bearing the Visa logo for Banque Misr's institutional and corporate customers, in line with the bank's strategic direction to expand the activity of payments made through cards and in line with the policies of the Central Bank of Egypt in reducing the volume of cash circulation and transitioning from a cash society to a cashless one. This supports and stimulates the use of electronic payment methods, in accordance with the policies of the National Council for Electronic Payments headed by the President of the Republic.
Mr. Mohamed El-Etreby, Chairman of Banque Misr, said, "We highly appreciate our distinguished strategic partnership with Visa, and Banque Misr is very keen to enter into partnerships and initiatives that would provide services that stimulate the use of various electronic payment options, which Banque Misr provides to its institutional and corporate customers to meet the needs of various segments of society, and to shift to a cashless society, which requires the concerted efforts of various partners and the provision of incentives that ensure that users prefer to enter the electronic payment system.
Mr. Mohamed El-Etreby emphasized that Banque Misr's signing of this protocol aligns with the bank's strategy to lead the future of digital payments. Banque Misr believes that integrating digital transformation elements into the banking system will further enhance the provision of banking and financial services, tapping into promising avenues of economic and financial development. This initiative aims to support growth and enable broader segments of society to access suitable financial solutions, thereby bolstering efforts for financial inclusion.
Malak El Baba, Visa's Vice President and General Manager for Egypt, expressed enthusiasm about partnering with Banque Misr, a leading bank in the market. This collaboration will facilitate the launch of our business solutions products, shaping the future of business in Egypt. The agreement will enable more entrepreneurs among Banque Misr's customers to access exclusive benefits from the banking sector, allowing them to efficiently manage their businesses and adapt to market changes. This partnership reflects our shared commitment to driving economic growth and empowering businesses with innovative, secure, and dependable financial solutions, recognizing the pivotal role of these companies in economic expansion.
Banque Misr actively supports digital transformation efforts by providing electronic solutions to facilitate institutional and corporate customers. This commitment enhances the accessibility and sophistication of banking and financial services. The bank is dedicated to improving its performance and effectively meeting the needs of all institutional and corporate customers. Banque Misr's values and strategies consistently prioritize the sustainable development and prosperity of Egypt."
