The Banking Executive Magazine - April 2024

Banque Du Caire Banque Du Caire INTRODUCES GREEN FINANCING PROGRAMS FOR SOLAR PANELS IN EGYPT Banque Du Caire has introduced fresh financing schemes aimed at ex- pediting the integration of sustain- able technologies across Egypt. These initiatives encompass loan of- ferings tailored for the purchase of electric vehicles and the installation of solar panels, underscoring the bank’s dedication to fostering a more environmentally friendly tomorrow. This move aligns seamlessly with Banque Du Caire’s persistent en- deavors to promote sustainable fi- nancial solutions. Ahmed Effat, Deputy CEO, highlighted this com- mitment, affirming, “We view sus- tainable financing as fundamental to our progress as a premier financial institution.” He further emphasized that these novel products provide adaptable financing alternatives at competitive rates, in line with the di- rectives of both the Egyptian state and the Central Bank. Effat stressed the institution’s envi- ronmental dedication, asserting, “Our unwavering commitment to en- vironmental stewardship propels us to adopt strategies that synchronize with Egypt’s shift towards a greener economy.” The financing programs for electric vehicles and solar panels represent integral components of a broader spectrum of initiatives geared towards realizing this overar- ching vision. Mohamed Tharwat, Head of Retail Banking and Microfinance, outlined the specifics of these programs, stat- ing, “Our solar panel personal loans extend financing of up to one million Egyptian pounds, with repayment terms stretching up to seven years.” He added, “Electric vehicle loans reach up to EGP 6 million, with re- payment periods extending up to eight years.” Additionally, the bank has forged partnerships with various showrooms and solar panel compa- nies to offer customers a diverse array of options tailored to their indi- vidual requirements. Banque Du Caire recognizes the sig- nificance of Environmental, Social, and Governance (ESG) responsibili- ties. By embedding these principles into their operational framework, the bank ensures sustained viability and robust performance over the long term. the BANKING EXECUTIVE 12 ISSUE 184 APRIL 2024