Al Ahly Tamkeen gets EGP 500M loan from Banque Misr

Updated 8/1/2023 9:24:00 AM
Al Ahly Tamkeen gets EGP 500M loan from Banque Misr

Arab Finance: Al-Ahly Capital Microfinance Company (Al Ahly Tamkeen) has signed a medium-term loan agreement worth EGP 500 million with Banque Misr to back micro enterprises, according to an emailed press release on July 31st.

Banque Misr’s Chairman Mohamed El-Etreby said that this cooperation comes as part of the lender’s strategy to support the non-bank financial institutions in Egypt.

For his part, Vice Chairman of Banque Misr Akef El-Maghraby said that such loans could encourage men and women to establish new projects in different sectors that in turn will create new job opportunities.

Managing Director of Al-Ahly Tamkeen Magdy Moussa said that his firm is always keen to increase the number of clients joining the financial inclusion initiatives.

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