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eAswaaq Misr and The United Bank Sign Strategic Cooperation Protocol to Expand Financing Solutions for SMEs

eAswaaq Misr, a subsidiary of eFinance Investment Group, announced the signing of a cooperation protocol with The United Bank aimed at supporting small and medium-sized enterprises (SMEs) and entrepreneurs through innovative and integrated financing solutions that contribute to economic growth and promote financial inclusion across Egypt.

The partnership reflects eAswaaq Misr’s commitment to expanding its digital services portfolio and strengthening its role in connecting businesses with a comprehensive financial ecosystem. Through its advanced digital platform for lending solutions and its extensive nationwide field network, eAswaaq Misr continues to provide accessible financing services to a wide range of customer segments, helping streamline financing procedures, improve operational efficiency, and reduce costs.

The cooperation protocol was signed by Engineer Ibrahim Sarhan, Chairman and Managing Director of eFinance Investment Group, and Tarek Fayed, Chief Executive Officer and Managing Director of The United Bank, in the presence of senior executives from both organizations, including Ahmed Sobhy, Deputy Managing Director and Head of Investment and Financial Affairs at eFinance Group; Adel Mubarak, Managing Director of eAswaaq Misr; Engineer Hossam El-Gouli, Managing Director of eFinance; Amr Nasr and Motaz El-Kassaby, Deputy Managing Directors of The United Bank, along with representatives from both entities.

Commenting on the agreement, Engineer Ibrahim Sarhan stated that the protocol marks a significant strategic step in enhancing eAswaaq Misr’s role in supporting digital transformation and developing supply chains through an integrated platform that combines digital lending, trade finance, and logistics services. He emphasized that the partnership will expand financing opportunities for productive enterprises, support their growth, and strengthen their contribution to Egypt’s economic development.

He added that cooperation with The United Bank represents a strategic partnership that contributes to building a comprehensive ecosystem supporting both productive and service sectors while improving access to markets. He highlighted The United Bank’s extensive banking expertise and strong commitment to economic development, which will help broaden the reach of advanced digital financial services and support the objectives of financial inclusion.

For his part, Tarek Fayed, Chief Executive Officer and Managing Director of The United Bank, emphasized that the protocol aligns with the bank’s strategy to strengthen its role in supporting the national economy by creating sustainable employment opportunities and encouraging local production. He noted that the SME sector remains one of the most important drivers of sustainable development, particularly in light of Egypt’s geographical and economic diversity, which offers significant opportunities to maximize local resources and enhance economic resilience.

Through this partnership, eAswaaq Misr continues to reinforce its mission of empowering businesses with innovative digital and financial solutions, contributing to a more inclusive, efficient, and sustainable economic ecosystem.

Islam Mamoun, CEO of eAswaaq, one of EFIG’s subsidiaries, revealed that the company has completed the first model in the mechanization process at the National Museum of the Egyptian Civilization, which has received great success since it’s opening, noting that it has also been applied in the Egyptian Museum in Tahrir and electronic gates are currently being added in preparation for their launch by the Minister of Tourism

Mamoun added that the company is also currently working on completing the 9 sites within the first phase of the project in “Hurghada, Sharm El-Sheikh, Islamic, Coptic, Haram, Citadel, and Saqqara” to be completed before the end of the year, and start mechanization in Luxor and then Aswan, provided that the development operations are fully completed within 7 months.

The project allows Egyptian and foreign visitors to book tickets for tourist attractions, museums and archaeological sites online and pay using credit cards or wallets via mobile, in addition to organizing access to these attractions through printed tickets, magnetic cards or through the use of a QR code on mobile devices.

He pointed out that the “Experience Egypt” application, which is being launched in cooperation with the Ministry of Tourism, is currently being completed and expected to be launched during the beginning of the last quarter of this year, as it allows it’s user to obtain the necessary information about Egypt and the sites that can be visited, as well as the possibility of booking tickets through it.

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