Arab Finance: Banque du Caire won the Gold Award for the Middle East and North Africa region in the field of product innovation for small and medium enterprises for the year 2024, as the first Egyptian bank to obtain this award, according to what was announced by the Small and Medium Enterprises Financing Forum, which is managed by the International Finance Corporation (IFC), “a member of the World Bank Group.” During the activities of the forum’s global conference, which was held in Sao Paulo, Brazil, from September 16 to 18, 2024, according to the statement sent on September 29.
Ahmed Effat, Executive Vice President of Banque du Caire, said that the bank’s receipt of this award in the context of a competition with many participating banks and financial institutions across the Middle East and North Africa is a clear reflection of Banque du Caire’s extensive experience in the field of financing small and medium enterprises.
Effat continued that interest in small and medium enterprises is one of the pillars of the development policies pursued by the bank because these projects are of great importance in achieving sustainable development goals, supporting the national economy, creating new job opportunities, reducing imports, and supporting national industry and exports, indicating that the size of Financing for this sector amounted to about 26.1 billion pounds by the end of the second half of 2024, and the number of business centers and units specialized in serving small and medium-sized enterprise customers at Banque du Caire reached 53 centers and business units covering all parts of the Republic.
Meanwhile, Nader Saad, Chairman of the Small and Medium Enterprises Group, stated that Banque du Caire continues to win awards, as it was previously crowned with the Platinum Award as the best financier for small and medium-sized companies for the year 2023 for the Middle East and North Africa region, “in addition to the award for the best bank providing digital lending solutions from its foundation.” “The Digital Banker”
He also indicated that the bank is also working to provide non-financial advisory services through specialized employees present in 8 business development units equipped in the bank’s branches within the Nile Pioneers Initiative under the umbrella of the Central Bank of Egypt to achieve the goals of financial inclusion, in order to improve the entrepreneurship environment and help emerging, small and medium-sized companies. To start, manage and develop businesses in the most efficient way, and this service is free within the framework of the bank’s efforts and its effective role in supporting and aiding the national economy, codifying all projects, and providing full support in project management.
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