Arab Finance: Based on Banque Misr’s pioneering role in supporting digital transformation and in a pioneering development that would redefine the auction scene in Egypt, Banque Misr succeeded in holding the first public digital auction to sell some real estate assets owned by Banque Misr in cooperation with the Belmazad.com platform. The auction represents a new era. It is fair and efficient bidding that is consistent with Egypt’s Vision 2030, which emphasizes digital transformation as a key driver of economic growth, by leveraging cutting-edge technology to streamline operations, enhance transparency and improve user experience, the statement sent on December 3 said.
It is worth noting that Tech Mazad has established the “Bel Auction” platform as the first digital platform specialized in offering and selling real estate assets through digital auction, in order to facilitate the process of selling the targeted real estate assets in a more efficient and transparent manner.
Ahmed Sobhi, Head of the Financial Markets and Investment Sector at Banque Misr, explained that based on Banque Misr’s pioneering role in the field of digital transformation, it has supported the Bizad platform as the first digital platform specialized in the field of digital auctions, and this comes in line with the strategy of the Central Bank of Egypt in the field of digital transformation and the pursuit of a non-profit society. Cash, and Ahmed Sobhi added that the Bank of Egypt aims to increase the volume of real estate assets offered on the “Bel Auction” platform, whether they are assets owned by the Bank of Egypt or assets owned by others that the Bank of Egypt is entrusted with the process of selling.
Hassan Samir, Director General of the Central Administration for Investment and Real Estate Development at Banque Misr, explained that the success of the first digital auction via the “Bel Mazad” platform and the outcome of the auction will encourage the bank to increase the operations of displaying its assets on the platform because of the advantages the process enjoys, represented in efficiency in management. The cost resulting from the offering process, as well as achieving a fairer price without any external interference, whether from bidders or auctioneers. The experience has proven the readiness of the Egyptian market for digital transformation in the auction sector, which heralds further growth and developments in that sector.
During the next phase, the platform aims to increase the volume of its operations by working with other Egyptian banks, government agencies and institutions, in addition to private institutions, as it aims to be the primary destination for digital auctions, which enriches the digital auction market and paves the way for providing new and innovative services in addition to attracting new segments. For the real estate market.
The digital platform features an advanced system that guarantees complete confidentiality for bidders, as the identity of the participants is not revealed, which creates a fair competitive environment.
Banque Misr always seeks to enhance the excellence of its services, maintain its long-term success, and actively participate in services that meet the needs of its customers, as the bank’s business values and strategies always reflect its commitment to the sustainable development and prosperity of Egypt.
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