Mohamed El-Etreby, Chairman of Banque Misr, has announced the signing of a Memorandum of Understanding (MoU) with Malak Al-Baba, General Manager of Visa Egypt, to enhance expertise exchange in the fields of payments and entrepreneurship.
This collaboration will support startups enrolled in the bank’s “Taqdar” program, which is designed to foster growth and innovation.
The MoU was signed in the presence of Hossam El-Din Abdel Wahab, Vice Chairman of the bank, and Mohamed El-Sebban, Head of Strategic Projects at Banque Misr.
The ceremony marks a significant step in aligning with global best practices and addressing the needs of the startups involved in the “Taqdar” program.
The partnership aims to address the needs of startups participating in Banque Misr’s accelerator program, “Taqdar,” in line with both local and international market practices.
This agreement is part of the bank’s broader initiative to launch an open innovation program and support entrepreneurship, equipping the bank with tools and strategies to implement its innovation strategy and assist emerging companies.
The collaboration will enhance financial service knowledge for startups through training sessions and practical courses. It will provide entrepreneurs and startups with advisory services from Visa experts in payments and financial technology. Additionally, the partnership will explore cooperative opportunities and encourage joint innovation in financial services through interactive workshops and idea exchanges.
About Taqdar
Taqdar program is Banque Misr’s startup acceleration initiative designed to provide technical and financial support over six months.
The program offers a wide range of support services and strategic benefits, including access to a customer base of over 15 million people, expert consultations, strategic partnerships across sectors, and ongoing support and growth opportunities for all participating startups.
Mohamed El-Etreby, Chairman of Banque Misr, stated that the bank is committed to forming partnerships and initiatives that provide the necessary support to entrepreneurs and startups.
He emphasized the bank’s goal of helping overcome obstacles and offering solutions based on a deep understanding of customer needs.
He added that startups in the program would benefit from a comprehensive package of technical and financial support, along with strategic advantages and investment incentives, aiming to accelerate their growth through various expertise and strategic partnerships.
Malak Al-Baba, Vice President and General Manager of Visa Egypt, remarked that Visa is dedicated to advancing the financial technology sector in the market.
She noted that this partnership with Banque Misr would bolster these efforts, given the bank’s role as a key player in financial technology.
The MoU represents a significant development in supporting the startup ecosystem.
By providing access to industry expertise, advanced technologies, and Visa’s extensive network, the collaboration aims to foster a thriving fintech environment that promotes innovation, enhances cooperation, and drives financial inclusion, ultimately transforming the digital payments industry.
