Medbank opens the first business development services center in Beni Suef as part of the Nile Pioneers initiative

Medbank has opened a business development services center in Beni Suef Governor to be the bank’s first center to support entrepreneurship, start-ups and small and medium-sized enterprises, thus contributing to the development of their capabilities, and various non- financial services that significantly contribute to the development and growth of the business of this segment of clients.

It comes within the framework of the Nile Pioneers initiative launched by the Central Bank to provide non-financial support to entrepreneurs, so that the new center joins the network of branches of business development service centers that joins 12 banks in addition to the Ministry of Youth is affiliated. and Sport, bringing its number so far to 33 centers in 18 governorships.

The opening of the Business Development Center comes in the light of Medbank’s new strategy launched under the slogan ‘We work for your future,’ which pays close attention to the support of small and medium-sized companies, through various banking solutions and banking and non- financial services that support the growth and expansion of these projects, contributing to the achievement of economic development.

The opening was attended by a number of Medbank leaders, including Iman Abu Zaid, Head of the Bank Credit and Syndication Sector at Medbank, Ahmed Medhat, Head of the Branch Network, Sales and Distribution Sector at Medbank, Ahmed Jaber, Assistant General Manager for Finance of small and medium projects at Medbank, and Mustafa Mounir, director of the small and medium enterprises division at the bank, the central bank, a number of central bank officials, and dr. Pioneer Initiative.

In this context, dr. Amr El-Garhy, CEO and Managing Director of Medbank, said: “Small and medium enterprises are one of the key axes of Medbank’s new strategy, because of their importance in promoting the economy and providing jobs. Opportunities for young people. By to provide banking solutions tailored to the needs of the various segments of that sector, and to provide non-financial and advisory services, support and guidance to entrepreneurs and small and emerging projects within the framework of the “Nile Pioneers” initiative.

Sheriff Luqman, Deputy Governor of the Central Bank for Financial Inclusion, in turn said: “The Nile Pioneers initiative is one of the most important initiatives launched by the Central Bank in collaboration with the banking sector to provide non-financial services to entrepreneurs, start-ups and small businesses, with the participation of many local and international bodies to support the owners of innovative ideas and develop them Startup projects by providing an integrated infrastructure for them.

He continued that the Central Bank aims to increase the base of banks participating in this initiative to create culture and incentive within the banking sector and to create the infrastructure and mechanisms needed to provide advisory services in terms of support. and guidance to entrepreneurs and the promotion of the effectiveness of small projects, in addition to other initiative programs to develop their capabilities, encourage local industry and support important economic sectors, especially the agricultural and industrial sectors, and encourage the informal economy sector projects to move to the formal sector and benefit from various financial and banking services. ”

Eman Abu Zaid, Head of the Bank Credit and Syndicated Lending Sector, confirmed that Medbank is keen to take part in the Central Bank’s initiatives and believes in the importance of the banking sector’s role in developing and supporting the national economy and achieving Egypt’s Vision 2030.

Medbank also promotes the integration of banking and non-financial services, which has become an important pivot in the process of economic development. Therefore, Medbank’s ambitious strategy pays great attention to supporting entrepreneurship, start-ups and small and medium enterprises.

Abu Zeid also said: “Medbank is keen to help young people innovate and turn their ideas into real projects on the ground. Therefore, it is participating in the Nile Pioneers initiative by establishing a Business Development Services Center in the Beni Suef branch, which provides a package of non-financial services for beginners and small businesses.These centers work to achieve the goals of the initiative, which include the adoption of promising project ideas, the provision of technical and technical support for them , and sponsoring it at all stages so that the ideas turn into projects on the ground, in addition to developing the capabilities of young entrepreneurs, supporting the strategy of women’s economic empowerment and encouraging local industry and technology. of digital applications to support the agricultural sector, helping to meet the needs of the Egyptian market and increase employment elements. ”

She added that the new center provides a range of services up to 9 services, the most important of which is the “service to facilitate the acquisition of financing” by compiling the credit file and the documents required from the client to obtain the required financing. to study and to collect. awareness of the methodology for managing financial institutions, and “service to facilitate registration and obtain activity licenses.”

He explained that the center assists the client to access registration information from the steps, procedures and documents required to register the activity, as well as to obtain a license to practice, and the “new project idea creation service “which aims to enable young people and potential people. entrepreneurs to identify feasible project ideas and evaluate the different stages of an idea the project and ensure its suitability for implementation.

Abu Zeid also mentioned that Medbank pays crucial attention to supporting entrepreneurship and small and medium-sized companies, as a sector of bank credit has been established at Medbank for small and medium-sized companies to expand in that field.

Med Bank also provides various financing solutions to corporate clients, including the initiatives available from the Central Bank, including the 5% interest rate financing initiative, which aims to meet the needs of small businesses for working capital and capital expenditure financing, and the 8% – interest rate financing initiative. financing initiative to finance both working capital and expenses Capitalism, expansion plans and new projects for medium-sized companies, in addition to the services provided by the Business Development Center in Beni Suef Governor, where Med Bank works to increase the percentage financing to small and medium-sized enterprises To reach 25% by the end of 2022 in accordance with the instructions of the Central Bank in this regard.

Ahmed Gaber, Assistant General Manager for Small and Medium Enterprise Finance at Medbank, added that the bank’s participation in the “Nile Pioneers” initiative is one of the steps the bank has taken as part of its expansion strategy to serve small and medium business clients by providing non-financial services and creating sales opportunities through customer networks.The sector has some large companies within the bank’s portfolio, as well as providing various training programs and consulting services, in addition to other services that add value to clients of small and medium-sized companies.

Medbank has devised an ambitious strategy to expand in the field of small and medium-sized companies, and an updated business model has already been implemented that focuses on the effective management of customer relationships in line with market developments and the requirements of different segments of companies. , and also based on the latest global methods applied in the leading countries in the field of service and financing. Bank in this regard.

It is noteworthy that Medbank has begun work in recent months to implement its new strategy, which has focused on developing the bank’s infrastructure, engineering and technology by keeping pace with the latest banking systems, improving the portfolio of services and products, and the support of small and medium enterprises, in line with the Central Bank’s plans to develop the work of the Egyptian banking sector.According to the latest global banking technologies.

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