The Banking Executive Magazine - August 2024 Issue

Banque Misr and Tanmeyah the BANKING EXECUTIVE 16 ISSUE 188 AUGUST 2024 Banque Misr and Tanmeyah SIGN EGP 500MLN CREDIT FACILITY AGREEMENT TO BOOST SMALL AND MICRO BUSINESS DEVELOPMENT In line with Banque Misr’s strategy to support small and micro enterprises and contribute to sustainable eco- nomic development, the bank has signed an EGP 500 million credit fa- cility agreement with Tanmeyah, a subsidiary of EFG Holding and a leading provider of financial services in Egypt with a concerted focus on the micro and small enterprise seg- ments. The agreement was signed on behalf of Banque Misr by Mr. Mohamed El- Etreby, Chairman of Banque Misr, and Mr. Mostafa Gamal, Head of the Financial Institutions and Correspon- dents Sector. The ceremony was at- tended by Mr. Hosam Abdel Wahab, Vice Chairman of Banque Misr, and Mr. Aladdin El Afifi, Chairman of Tanmeyah and CEO of EFG Finance, an EFG Holding company. Repre- senting Tanmeyah were Mr. Jinu Johnson, CEO and Managing Direc- tor of Tanmeyah, and Mr. Hesham El- bosaty, Group Treasurer & Head of Finance – Private Equity of EFG Holding. Banque Misr’s decision to enter into this agreement underscores its com- mitment to the role of non-banking financial institutions in fostering eco-