The Banking Executive Magazine - August 2024 Issue

Banque Misr and Tanmeyah nomic growth and diversifying fi- nancing sources. The agreement aims to provide Tanmeyah with var- ious financing solutions, including short and medium-term loans, to support its clients—particularly indi- viduals and small business owners— under favorable terms and competitive rates. In this context, Mr. Mohamed El Etreby, Chairman of Banque Misr, pointed out that the signing of this agreement by Banque Misr comes within the framework of its strategy aimed at supporting and developing small and micro enterprises, and based on its role as one of the lead- ing institutions in the field of small and micro enterprises. Mr. EL-Etreby confirmed that Banque Misr is al- ways keen to enter into initiatives and protocols that provide financing to customers of the small and micro enterprises sector, believing that these projects are the engine of eco- nomic growth and its pillar, which will contribute to supporting the en- trepreneurs of the small and micro enterprises And increasing the num- ber of small and micro enterprises and enhancing the local product through the national industry that has the ability to compete internationally and provide more job opportunities, as the values and strategies of Banque Misr always reflect its com- mitment to the sustainable develop- ment and prosperity of Egypt. Mr. EL -Etreby praised the fruitful coopera- tion of the non-banking financial in- stitutions team at Banque Misr and the financing team of Tanmeyah Company and the professionalism of their teams, as they completed all fi- nancing procedures successfully and efficiently at various stages. Mr. Jinu Johnson, Chief Executive Of- ficer and Managing Director of Tan- meyah, commented, “We are thrilled to partner with Banque Misr on this transaction. This collaboration un- derscores our commitment to provid- ing financial services to those traditionally excluded from main- stream banking. By focusing on small businesses and extending our sup- port to lower-income individuals, particularly women and youth, we enhance financial inclusion and fa- cilitate sustainable business growth and economic stability. Our mission at Tanmeyah has always been to em- power the underserved segments of our society, and this agreement al- lows us to further that mission on a larger scale.” Since its inception, Tanmeyah has is- sued nearly three million financing packages of various types and sizes. The company operates approxi- mately 305 branches across 25 Egyptian governorates, serving about 30,000 customers monthly with a workforce of around 5,000 employ- ees. This extensive network ensures that a significant number of cus- tomers will benefit from the advan- tages this agreement provides across the country. Banque Misr seeks to offer advanced and accessible banking and financial services, continuously enhancing the quality of its offerings. The bank strives to maintain its long-term suc- cess and actively participate in initia- tives and services that meet its customers' needs. Furthermore, Banque Misr consistently supports national and strategic development, driven by its commitment to sustain- ability and continuous progress. ISSUE 188 AUGUST 2024 the BANKING EXECUTIVE 17