alekhbaryia Archives - الصفحة 46 من 51 - جريدة الاخبارية

Tanmeyah Joins Forces with Al Basateen District and the National Organization for Urban Harmony to Develop Palestine Square

Posted on ديسمبر 5, 2024 by Fatma abdelhamed

Tanmeyah, a subsidiary of EFG Holding and leading provider of financial solutions in Egypt with a concerted focus on micro enterprise segments, announced today its new development initiatives for Palestine Square and Ahmed Abd El-Azeem Street, situated next to the company’s headquarters in Al Maadi. This project highlights Tanmeyah’s unwavering commitment to community enhancement and environmental sustainability, falling in line with its Environmental, Social, and Governance (ESG) objectives and broader framework.

As part of these initiatives, Tanmeyah is spearheading the improvement projects at Palestine Square and Ahmed Abd El-Azeem Street, both adjacent to Tanmeyah’s HQ. This collaboration with Al Basateen district and the National Organization for Urban Harmony has culminated in the opening of the new and improved square in the presence of Dr. Ibrahim Saber Khalil, Governor of Cairo, Major General Yehia El Adgham, Secretary-General of Cairo Governorate; and Major General Magdy Mohamed Abdel-Motaal, Head of Al Basateen District.

The improvements feature upgraded flooring and pavement to enhance accessibility, improved lighting for better safety, and expanded landscaping to create more green spaces. These upgrades aim to revitalize the area, optimize air conditions, and facilitate pedestrian access, thereby promoting welfare for both our staff and local citizens. Additionally, Tanmeyah’s employees actively participated in this initiative, demonstrating their commitment to fostering a vibrant community.

Jinu Johnson, CEO and Managing Director of Tanmeyah, commented, “Our dedication to the community is at the core of what we do. With these initiatives, we are actively pursuing a safer, greener, and more inviting environment for everyone. This underscores our dedication to community welfare and sustainability, as we look to build long-term, positive impacts. We believe that by investing in our surroundings, we can foster a sense of belonging and connection among community members. This project reflects our dedication to building a sustainable future, where enhanced public spaces not only uplift the neighborhood but also contribute to the well-being of all who live and work here.”

Tanmeyah

Launched in 2009, Tanmeyah has grown to become Egypt’s premier financial services provider for microfinance enterprises, providing a range of financing solutions tailored to meet client needs, build businesses, and drive socioeconomic change. With the widest branch network in the country, deep industry knowledge, and community ties, Tanmeyah has improved lives and built businesses of millions across the country. Tanmeyah has issued over three million financing facilities of various types and sizes. It currently serves more than 30,000 new clients monthly through its network of nearly 350 branches and more than 5,000 employees in 25 governorates.

Central Bank of Egypt Launches a New Service to Facilitate Transactions for Citizens

Posted on ديسمبر 5, 2024 by Fatma abdelhamed

Central Bank of Egypt Launches a New Service to Facilitate Transactions for Citizens

Availing Inbound Remittances to Customers’ Bank Accounts Instantly

In alignment to the Central Bank of Egypt’s (CBE) continued efforts to enhance the electronic financial services’ infrastructure, promote digital transformation,

,and contribute to the transformation to a less-cash society

,the CBE provided several banks operating in Egypt with the necessary licenses and approvals

,enabling them to activate the service of instantaneous receipt of remittances

and their real-time crediting to customers’ bank accounts in Egypt, through the Instant Payment Network (IPN).

,The new feature marks a significant advancement in digital remittances

,allowing customers to transfer money from abroad to the Arab Republic of Egypt

.seamlessly and continuously to fulfill customers’ needs promptly at any time

,Noteworthy, the pilot phase of this service was launched in June 2024

.through the licensed bank correspondents and foreign exchange companies abroad

,This new feature represents a significant milestone in the evolution of the instant payment network

.which is anticipated to bolster customers’ reliance on digital financial services in their daily transactions

The CBE‘s National Instant Payment network- inaugurated in March 2022 – is one of the key component infrastructure projects,

.and stands as a cornerstone for the CBE’s payment systems infrastructure projects

,IPN’s services offer a convenient and efficient alternative to cash payments

.providing instant transfer services 24/7 to all banks’ customers

,This transition resulted in a surge in the IPN’s metrics

,with over 11.5 million users registered on the InstaPay app

.and transaction volumes are expected to surpass EGP 2.7 trillion by the end of 2024

NTRA launches eSIM technology in Egypt’s market

Posted on ديسمبر 5, 2024 by Fatma abdelhamed

NTRA launches eSIM technology in Egypt’s market

The National Telecommunications Regulatory Authority of Egypt (NTRA) launched the eSIM technology in Egypt’s market,

following the completion of all necessary technical tests by the four mobile operators to operate the service.

,This technology is one of the latest digital innovations in telecom field

.aiming to improve the user experience in Egypt

,It also aligns with NTRA’s objectives pursuant to Law No. 10 of 2003

,particularly in keeping abreast of scientific, technical

,and technological advancements in telecommunications

and its commitment to providing advanced technical solutions that contribute to developing telecom market and supporting digital transformation.

.The eSIM is a modern technology used instead of traditional mobile SIM cards

It allows users to switch between mobile operators easily without needing to change a physical SIM card,

,and is also more secure than traditional SIM cards

since it is embedded inside the device and cannot be easily removed, reducing the risk of theft or misuse.

This technology also improves the user experience and reinforces the efficiency and sustainability of telecom services.

,Furthermore, the eSIM technology provides users with great flexibility

.as they can get a new number and activate it directly on the eSIM

Additionally, users can transfer their current numbers to the eSIM easily without needing to replace the SIM card,

ensuring uninterrupted service. In this sense, NTRA made sure to clarify the eSIM service details

.by issuing a comprehensive guide for the use of eSIM in Egypt

Abu Dhabi to Host Forbes Middle East’s Under 30 Summit for the First Time, Celebrating

Posted on ديسمبر 4, 2024 by aberabozaher

Abu Dhabi to Host Forbes Middle East’s Under 30 Summit for the First Time, Celebrating
Youth, Innovation, and Creativity

*Forbes Middle East set to bring together over 5,000 innovators and content creators
for a unique event in Abu Dhabi*

• Join a visionary cohort of change-makers on December 10-11 for an unforgettable celebration of innovation and collaboration.
• The event will showcase young Arab leaders and entrepreneurs while offering a wide range of activities, workshops, and entertainment.
• Discussions will showcase the accomplishments of young achievers featured on the Forbes Middle East 30 Under 30 list.

December 4 2024: Abu Dhabi is poised to become the epicenter of entrepreneurial spirit and innovation as the Forbes Middle East Under 30 Summit unfolds for the first time at the great lawn in Umm Al Emarat Park, Abu Dhabi. Set to take place on December 10-11, 2024, the event will be a celebration of the exceptional talent that defines the Arab world’s future.

The summit will spotlight an exceptional roster of visionary minds shaping the future across diverse fields, including H.E. Mohamed Bin Taliah, Chief of Government Services for the UAE Government, Prime Minister’s Office; H.E. Dr. Mohamed Al Kuwaiti, Head of Cyber Security for the UAE Government; Ayman Mokhtar, Regional President for the Middle East, North Africa, and Eurasia at Viatris; Mansoor Al Sayegh, Group CEO of the Al Sayegh Group, Vice Chairman of the Aram Group PJSC and President of the Abu Dhabi Youth Business Council – Subsidiary of Abu Dhabi Chamber; Katralnada BinGhatti, CEO of Binghatti Holding; and Haleh Hamedifar, Chairperson at CinnaGen.

“The third edition of our Under 30 summit will inspire and catalyze impactful change among the next generation of leaders in the Arab world,” said Khuloud Al Omian, CEO and Editor-in-Chief of Forbes Middle East. “This event will be as vibrant and energizing as the young innovators on our 30 Under 30 list while offering the opportunity to discuss the challenges, trends, and ideas that they envision embodying the future of the region and the world.”

At the summit, the remarkable achievements of Forbes Middle East’s 30 Under 30 listers will take center stage. With two dynamic platforms; The Innovation Hub, covering science, technology, commerce, and finance, and The Social Hub, focusing on sports, entertainment, and social impact, participants will engage in thought-provoking discussions and panels featuring investors, creators, and experts as they delve into the most pressing topics facing the next generation of business leaders. Entertainment throughout the summit will include performances by DJ Rodge, singer Astrovalk, and drum pan artist Anas Al-Halabi.

Forbes Middle East is collaborating with various partners, including event partners, Alef Education, CinnaGen, and Cyber Security Council; strategic partner, the Abu Dhabi Youth Business Council; Food Vendors Partner, Cucina Del Sul Entertainment; sky art partner, Lumasky; and gift partners, Touch Of Oud, Daima, and Karji Perfumes.

To register and find out more about the Under 30 Summit, please visit the Forbes Middle East website.

NTRA issues instructions to facilitate the use of mobile e-wallet services for people of determination

Posted on ديسمبر 3, 2024 by aberabozaher

NTRA issues instructions to facilitate the use of mobile e-wallet services for people of determination

Celebrating the International Day of Persons with Disabilities and in recognition of the importance of enabling people of determination to utilize modern technology, being part and parcel of Egypt’s society, the National Telecommunications Regulatory Authority of Egypt (NTRA)

, in cooperation with the Central Bank of Egypt, issued new instructions to mobile operators regarding mobile e-wallet services.

These instructions aim to prepare and make these services accessible to users with disabilities for conducting payments and money transfers, as well as easily and safely carrying out the process of online shopping.

NTRA issues instructions

The instructions include enabling people of determination to subscribe to and activate mobile e-wallet services smoothly, providing mechanisms to assist them at mobile outlets through sign language interpreters or display screens for all information and procedures, as well as offering service contracts in Braille Language.

Additionally, NTRA directed telecom service providers to configure their mobile applications to meet the needs of people of determination by providing visual and audio interfaces, developing voice dictation features,

and supporting assistive technologies such as screen readers to facilitate the use of payment and money transfer services via mobile phones.

This step aims to uphold financial inclusion and provide mobile e-wallet services to all segments of society on an equal basis. It also aligns with the State’s strategy to promote Fintech services and enable individuals to access financial services easily and securely.

It’s worth noting that NTRA had previously launched a service to receive and resolve complaints from users with disabilities in sign language.

This could be actually done through video calls via NTRA’s website (https://tra.gov.eg), where complaints are received in sign language, followed up on, and resolved.

Additionally, NTRA approved a new mobile line for users with disabilities with a 50%-discount on its monthly packages, including voice and internet services.

It also approved a 50%-discount on service fees while paying utility bills via mobile e-wallets run by licensed mobile operators in Egypt’s market.

Furthermore, NTRA directed the operators to give priority to people of determination in completing all their transactions at branches without the need to wait, and to adapt branches and outlets according to the Egyptian Engineering Code to meet the needs of the people of determination.

“Central Bank of Egypt Joins the Pan-African Payment and Settlement System “PAPSS

Posted on ديسمبر 3, 2024 by malak ahmed

In line with Egypt’s unwavering efforts to enhance regional banking relations and strengthen economic collaboration with African countries, the Central Bank of Egypt (CBE) approved, in November 2024, the agreement to join the Pan-African Payment and Settlement System (PAPSS).
The PAPSS – developed by the African Export-Import Bank (Afreximbank) – facilitates cross-border payments and trade transactions, reducing both costs and processing times. Notably, this is a promising step towards strengthening historical economic ties and expanding bilateral trade between Egypt and fellow African countries.
In this regard, Mr. Rami Aboulnaga, Deputy Governor of the CBE, stated that the signing of the agreement for the CBE’s participation in the new system reflects Egypt’s commitment to enhancing commercial and economic ties with countries worldwide, and with African nations in particular. He also highlighted that this development is the outcome of the continuous communication and collaboration between the CBE and African central banks.
He emphasized that the multiple benefits of PAPSS are poised to incentivize banks operating in Egypt and African banks to join the system and stimulate cross-border financial transactions with one another. The System’s membership encompasses 14 central banks from (Nigeria, Ghana, Liberia, Guinea, Gambia, Sierra Leone, Djibouti, Zimbabwe, Zambia, Kenya, Rwanda, Malawi, Tunisia, and Comoros), alongside over 50 commercial banks. Noteworthy, several banks operating in Egypt have expressed interest and willingness to join PAPSS. Under the agreement, the CBE will oversee the participation of banks operating in Egypt in the System.
This initiative is expected to substantially boost the intra-African trade, strengthen Egypt’s economic ties with African countries, and promote financial integration among African fellows. Furthermore, it will ease pressure on the demad of foreign currencies through using a net settlement mechanism across all participating countries.

e& business from e& Egypt and pmaestro Join Forces to Accelerate Digital Transformation in Egypt

Posted on ديسمبر 3, 2024 by malak ahmed

e& Egypt and pmaestro inked a strategic partnership aimed at accelerating digital transformation across Egypt and the MENA region. This collaboration combines the strengths of two industry leaders to fuel innovation, empower businesses, and drive sustainable growth in the digital economy.

The partnership prioritizes Digital Inclusion, bridging the digital divide to ensure equitable access to technology for enterprises, SMEs, and startups. Leveraging e& business’s advanced technology ecosystem—including cloud hosting, connectivity, and smart city solutions alongside pmaestro’s agile expertise in designing and delivering tailored digital solutions, the collaboration is set to create meaningful impact and unlock new opportunities for businesses to grow.

“By joining forces with pmaestro, we are combining e& business (from e& Egypt) cutting-edge technologies with their agile innovation capabilities,” said Mohamed ElReweny, Enterprise Solution Director at e& Egypt. “Together, we aim to deliver transformative solutions that empower enterprises and startups, ensuring a future of sustainable growth and digital inclusion.”

Mohamed Mounir ElAhwal, Founder and Managing Director of pmaestro, added: “pmaestro’s mission has always been to empower businesses through tailored innovation and digital transformation. This partnership with e& business represents a monumental step forward in creating impactful solutions and driving inclusive growth across Egypt’s digital economy.”

pmaestro remains dedicated to advancing financial inclusion, empowering women and youth, and driving sustainable digital economic growth. Through key partnerships with organizations like the Central Bank of Egypt, USAID, EGYtrans, and Transmar, pmaestro has actively supported startups in sectors such as fintech, logistics, and proptech.

Makanak Real Estate organizes the Egyptian pavilion at the Sharjah Real Estate Exhibition Acres 2025 in the Emirates next January

Posted on ديسمبر 2, 2024 by aberabozaher

Makanak Real Estate organizes the Egyptian pavilion at the Sharjah Real Estate Exhibition Acres 2025 in the Emirates next January
Makank Real Estate cooperates with the Sharjah government to organize the Egyptian pavilion at the “Acres 2025” exhibition next January
Makank Real Estate supports real estate exports. For the first time and exclusively, it organizes the Egyptian pavilion at the Sharjah Real Estate Exhibition Acres 2025 in the UAE

As part of its expansion plan and its efforts to enhance its regional leadership in the field of organizing and holding real estate exhibitions abroad, Makanak Real Estate Company – specialized in organizing and holding international real estate exhibitions – is preparing to organize the Egyptian pavilion at the Sharjah Real Estate Exhibition “Acres 2025”, which will be held during the period from January 22 to 25 at Expo Center in the Emirate of Sharjah in the United Arab Emirates.

Makanak Real

Mahmoud Abdel Halim, Chairman of Makanak Real Estate Company, stated that the company’s organization of the Egyptian pavilion came in accordance with a cooperation protocol that was signed earlier between Makanak Real Estate Company, the Government of Sharjah and the Emirati Leaders Company, noting that the company took this step as part of its continuous efforts to support the Egyptian state’s plan in the file of exporting Egyptian real estate abroad, and to enhance the flow of joint Egyptian-Emirati investments in the field of real estate development.

Abdel Halim said that Makanak Real Estate aims, through organizing the Egyptian pavilion at the Sharjah Real Estate Exhibition “Acres” next January, to promote and market Egypt’s urban experience and to capitalize on the major urban boom that has taken place over the past ten years, which has contributed to diversifying investment opportunities, as well as infrastructure projects that have contributed to raising investment returns and creating an attractive environment for companies to achieve the highest profits.

He pointed out that the Egyptian pavilion at the Sharjah Real Estate Exhibition “Acres 2025” will witness the participation of major Egyptian real estate development companies that own various projects in all geographical areas in Egypt, such as the New Administrative Capital and the North Coast, New Cairo, Sheikh Zayed and October, 6th of October and others.

He added that the exhibition will also provide opportunities for Egyptian companies to gain more experience and learn about the latest technology in the field of real estate, as there will be a special pavilion for companies specialized in real estate technology and will display the latest applications and systems currently available worldwide, which have become one of the most important sales mechanisms for the real estate sector now.

He continued, “We will also ensure the presence of banking institutions to provide real estate financing services to interested customers, which will be a strong incentive for many customers wishing to contract with real estate companies participating in the exhibition.”

On the sidelines of the exhibition, and over its four days, many joint investment discussion sessions will be held between delegations of major investors and real estate developers, to enhance joint investment in the real estate development sector in Egypt, as well as provide an opportunity for Egyptian investors wishing to learn about opportunities in the Emirates.

Abdul Halim stressed that the company will provide full equipment for the Egyptian pavilion to enable each company to be present with its sales team, project data and competitive offers.

Superb display mechanisms will be provided, he added.
The exhibition is also witnessing an increasing attendance year after year, and it is expected that the number of attendees during the next session will exceed 15,000 visitors.

Makanak Real Estate Company aims, through organizing the Egyptian pavilion at the Sharjah Real Estate Exhibition “Acres 2025”, to reach all members of the Egyptian community residing in the United Arab Emirates, which is estimated at more than 800 thousand Egyptians.

A large segment of these expatriates has a great desire to obtain real estate in their home country, whether for the purpose of housing or investment, which will create strong demand for Egyptian companies participating in the exhibition, in addition to targeted customers from all other foreign communities residing in the Emirates, in addition to the citizens of the UAE themselves.

Makank Real Estate Company aims to organize the attendance of Egyptian companies in many other international exhibitions scheduled to be held in the coming period in the Kingdom of Saudi Arabia, Qatar and the Emirates.

It is worth noting that the Sharjah Acres Real Estate Exhibition is one of the largest real estate exhibitions in the Middle East, and the largest real estate exhibition in the Emirates, organized by the Sharjah Chamber of Commerce and Industry, the Real Estate Registration Department and the Real Estate Sector Group.

It has been held for 15 years and scored large sales for real estate companies from all over the world.

Acres Exhibition 2024, which was held in Sharjah from January 17 to 20, 2024, brought about sales for participating companies exceeding 1.4 billion dirhams, and was attended by about 13 thousand visitors.

More than 93 companies from around the world participated in the exhibition, which stretched over an area of 6,000 meters.

EFG Hermes Advises on Maarif Education’s Landmark Acquisition of Ibn Khaldoun Education Company in Saudi Arabia

Posted on نوفمبر 29, 2024 by Fatma abdelhamed

EFG Hermes Advises on Maarif Education’s Landmark Acquisition of Ibn Khaldoun Education Company in Saudi Arabia

EFG Hermes advised on this complex transaction, which stands as one of the most substantial investments to date in Saudi Arabia’s private K-12 education sector.

Riyadh, November 28, 2024

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East

and North Africa (MENA), announced today that it had advised on Maarif Education’s 100% acquisition of Ibn Khaldoun Education Company (IKEC). This transaction,

currently in the post-signing stage, positions Maarif Education to become the largest K-12 education provider in Saudi Arabia by both revenue and geographical presence and marks one of the largest investments in Saudi Arabia’s education sector.

The acquisition of Ibn Khaldoun Education Company, an institution with eight campuses under the name “Ibn Khaldoun Schools” in Riyadh, serving more than 13,000 students,

.will more than double Maarif’s student enrollments to over 36,000 students across the Kingdom

This transaction reflects Maarif’s strategic commitment to expanding its footprint and offering high-

,quality educational experiences to students nationwide, which is in line with Saudi Arabia’s Vision 2030

.which emphasizes quality education as a cornerstone of sustainable development

,Maarif Education, which has a legacy of over 50 years in Saudi Arabia’s K-12 sector

is already recognized for its strong educational infrastructure and extensive curriculum offerings that serve a broad demographic.

,The addition of Ibn Khaldoun Schools enhances Maarif’s reach and resources

positioning it as a national leader with the scale and capabilities required to serve an expanding student population in the Kingdom.

,Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said

.We are pleased to have advised on Maarif’s landmark acquisition of Ibn Khaldoun Schools”

Upon completion, this acquisition will position Maarif as the leading private K-12 education provider in the Kingdom,

.advancing its strategy to expand high-quality private education in alignment with the Kingdom’s vision

,This transaction highlights our commitment to delivering expertise and trusted advisory

.making us the partner of choice for transformative education deals across the region

,This transaction marks our 3^rd advisory mandate in the sector this year

having earlier executed the USD 66.9 million ABB on Taaleem Education and the USD 514.6 million IPO of Alef Education on the ADX.”

EFG Hermes served as Maarif’s sole financial advisor on the transaction.

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a trailblazing financial institution that boasts a remarkable 40-year legacy of success in eight countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers an extensive array of financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a small and microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, PayTabs Egypt, a digital payment platform, as well as Bedaya for mortgage finance and Kaf for insurance as well as Fatura, a technology-backed B2B marketplace. Furthermore, the company delivers commercial banking solutions through Bank NXT, a leading provider of integrated retail, corporate, and Islamic banking products in Egypt.

Learn more about us at www.efghldg.com

Bank NXT Partners with Mindgate to Launch a Cutting-Edge Digital Platform

Posted on نوفمبر 28, 2024نوفمبر 29, 2024 by fatma

Bank NXT Partners with Mindgate to Launch a Cutting-Edge Digital Platform for Corporate Clients

Cairo, 28 November 2024

Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, is excited to announce a strategic partnership with Mindgate Solutions, a global leader in payment technology and transaction processing, to co-develop a digital platform tailored to the needs of corporate clients to provide them with seamless internet and mobile banking solutions. This collaboration marks a significant milestone in the bank’s ongoing commitment to delivering top-tier financial solutions backed by cutting-edge technology.

The new platform will leverage Mindgate’s advanced digital technologies and Bank NXT’s industry expertise to create an integrated and user-friendly interface that empowers corporate clients to manage their finances more effectively and efficiently. By offering a secure, intuitive, and scalable platform, this solution will streamline banking operations, enhance decision-making, and support the growth of corporate clients across industries.

The new digital platform for Bank NXT’s corporate clients offers comprehensive features to streamline financial operations. With robust corporate digital facilities, clients can efficiently manage transfers, payments, and payroll, ensuring seamless transactions. The platform also enables requesting corporate cards and the management of cheques, providing enhanced control over expenditures. Additionally, users benefit from powerful analytics and reporting tools, enabling informed decision-making through real-time insights into financial performance. These features empower businesses to optimize their financial processes and drive growth.

Tamer Seif, CEO and Managing Director of Bank NXT said, “Our collaboration with Mindgate Solutions marks a significant advancement in our commitment to delivering innovative digital solutions to our corporate clients. By integrating Mindgate’s advanced digital technologies with our banking expertise, we will offer a platform to enhance the efficiency and security of financial operations for businesses across Egypt with seamless internet and mobile banking experiences. This partnership reflects our dedication to empowering our corporate customers with the tools they need to thrive in a rapidly evolving financial landscape.”

Iman Badr, Deputy CEO – Consumer Banking, Marketing, and Financial Inclusion of Bank NXT, said, “Our collaboration with Mindgate Solutions represents a substantial step toward reshaping corporate banking in Egypt. This partnership is about more than efficiency; it’s about reimagining how businesses interact with their financial systems. By introducing intelligent digital tools, we aim to inspire a new level of convenience and flexibility, empowering our clients to focus on their strategic goals while we handle the complexities of financial management.”

George Sam, Co-founder & Business Head, Mindgate Solutions said, “This partnership with Bank NXT is a testament to our shared vision of empowering businesses through innovation. Our goal is to provide corporate clients with platform that simplifies financial operations, enabling them to focus on driving their strategic priorities and growth.”

Guhan Muthuswamy, Co-founder and Software Architect at Mindgate Solutions, added, “At Mindgate, we believe in leveraging technology to enable transformative experiences. This platform embodies our focus on scalability, security, and user-centric design, ensuring that corporate clients benefit from a seamless and intelligent solution that adapts to their evolving needs.”

The collaboration underscores both companies’ shared vision of empowering businesses through digital transformation. By leveraging the latest advancements in fintech and combining their strengths, Bank NXT and Mindgate are poised to redefine corporate banking for the future.

About Bank NXT

Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978 with a capital base of USD 40 million, which was later increased to EGP 1,987 million in 2020. Moreover, as per the decisions of the general assembly held on the 10^th of October in 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,000,000,003 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:

EFG Holding S.A.E – (51%)

Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)

National Investment Bank – (24%)

The Bank offers banking services for individuals through its wide spectrum of retail banking products in addition to its corporate banking services for businesses and institutions through providing loan syndication services to companies and institutions looking to finance large national projects that support the economy and the Bank. The Bank is keen on supporting the growth of small and medium enterprises, which play a crucial role in Egypt’s overall economic and social development and provides investment and treasury services. The Bank also offers Islamic banking services, overseen by a solid Sharia-compliant body that ensures the Bank remains in line with all Islamic banking standards.

The Bank offers its services to its customers through its 34 branches nationwide. It is constantly working on expanding its geographical presence by opening new branches, with 2 new branches set to open this month. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.

Egyptian Developers marks EGP 1.2bn sales milestone in 18 months

Posted on نوفمبر 26, 2024 by Fatma abdelhamed

Egyptian Developers marks EGP 1.2bn sales milestone in 18 months, honoring employees for their exceptional contributions

Egyptian Developers reveals the strategy behind exceeding EGP 1.2bn in sales within 18 months

,Egyptian Developers establishes a prominent foothold in Shorouk City

recording EGP 1.2bn in project sales in just 18 months

,Egyptian Developers has announced record-breaking sales

.achieving over EGP 1.2bn in sales between early 2023 and mid-2024

This milestone underscores the company’s rapid emergence as a key player in Egypt’s real estate sector.

,Chairman Abdel Rahman Abu Zeid attributed this success to several strategic factors

.including innovative approaches to project development in Shorouk City, east Cairo

The company has focused on designing commercial

,and mixed-use spaces that redefine the concept of traditional malls

.creating modern and dynamic hubs that cater to diverse needs

,He highlighted the company’s unwavering commitment to delivering high-quality projects on time

adhering to exceptional standards in design and functionality while consistently meeting

.or surpassing deadlines

Moreover, Egyptian Developers strives to be a catalyst for growth in emerging cities

by introducing innovative commercial centers that create modern urban environments

.and significantly contribute to the development of these areas

,Abu Zeid emphasized the company’s unique strengths

.which have firmly established its leadership in Al-Shorouk City

These strengths include pioneering innovative approaches in commercial real estate

.by developing multi-purpose malls with contemporary designs that cater to evolving market demands

,He highlighted the company’s strong track record for reliability

.consistently delivering projects on or ahead of schedule while upholding superior quality standards

He noted, “We have succeeded in creating modern designs for our projects

by elevating the standard of mall designs with a contemporary approach that aligns with market trends

.and offers customers a unique shopping experience

,Our strategic vision focuses on developing modern cities through innovative malls

with the aim of contributing to the growth of new urban areas in Egypt by providing commercial and

.”mixed-use spaces that enhance urban living and support community development

,Dr. Makhlouf Abd Rabo, CEO of Egyptian Developers

,stated that the company has achieved an exceptional 90% customer satisfaction rate

.both before and after sales

,This metric allows the company to gauge customer expectations against the final product delivered

,revealing that clients were highly satisfied

.with no discrepancies between the promised and delivered outcomes

He added that maintaining high-quality standards remains a core principle

in all of the company’s projects pointed out that achieving such strong results in such a short period

.is primarily due to a clear vision, dream, and strategy that is shared by all employees of the company

,Every individual within Egyptian Developers is part of the company’s family

.with all departments working together to implement this ambitious strategy

He concluded that a special celebration was organized to honor all employees

for their efforts in achieving this success and their continued hard work throughout

.the year to maintain these remarkable results in such a short time

Zakat and Charities Fund Launches “Warmth and Reassurance” Campaign Across All Governorates‎

Posted on نوفمبر 26, 2024 by Fatma abdelhamed

Distribution of blankets, new clothing, and food items

Zakat and Charities Fund Launches “Warmth and Reassurance” Campaign Across All Governorates‎

Under the supervision of HE Prof. Ahmad At-Tayyeb, Grand Imam of Al-Azhar

,and ‎Chairman of the Zakat and Charities Fund Board of Trustees

“the Zakat and Charities Fund has announced the launch of the ‎‎”Warmth and Reassurance

Campaign for the 2025 Winter. This initiative aims to distribute ‎blankets, winter clothing, jackets, shoes

,for all ages, and food supplies to those eligible in ‎villages, rural areas

and remote regions across all governorates to protect them from ‎severe colds

and illnesses and provide the winter season necessities for them.‎

,In a statement issued today, Tuesday, November 26, 2024

“the Zakat and Charities Fund explained that the ‎‎”Warmth and Reassurance

.campaign seeks to distribute hundreds of thousands of ‎blankets, new winter clothing, and food items

This is part of the “Cover and Shelter” ‎Program, one of the Zakat and Charities Fund

,development initiatives aimed at supporting the most ‎vulnerable families, reassuring them

assisting them, and bringing joy to their hearts.‎

The Zakat and Charities Fund affirmed its commitment to directing Zakat to their legitimate ‎channels

The Zakat and Charities Fund affirmed its commitment to directing Zakat and charity funds

to their legitimate ‎channels and supporting deserving families across all governorates through various

.‎development programs

These programs aim to provide direct financial assistance to ‎families or individuals lacking

,the means to meet basic living needs, as well as diverse aid ‎for the needy, widows, the sick

,people with disabilities, and orphans, facilitating ‎marriage

,and securing medical treatment for patients, in line with the words of Allah ‎Almighty

,Charities are only for the poor and the needy, and those employed to collect ‎them”

,and for bringing hearts together, and for freeing captives, and for those in debt

.and ‎for the cause of Allah, and for the (stranded) traveler – an obligation (imposed) by Allah

‎And Allah is Knowing and Wise.” (Quran 9: 60).‎

:For more information

https://baitzakat.org.eg
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