Empowering women via financial inclusion:
Following the protocol signed between the Central Bank of Egypt and the National Council for Women (NCW) during the AFI Global Policy Forum held in Sharm el Sheikh last September, Alexbank is the first bank to sign a Memorandum of Understanding (MOU) with the NCW, with the attendance of Khaled Bassiouny, Head of Financial Inclusion Department at the Central Bank of Egypt, aimed at defining a series of initiatives to pursue actual application of the objectives indicated in the national protocol which are complying with “ Egyptian National Women Strategy 2030”.
The protocol is aimed in particular at implementing concrete steps to improve the financial inclusion of women living in rural areas while promoting an enhancement of their general level of financial literacy in addition to provide tangible support to Egyptian women in business.
Dr. Maya Morsy, Head of National Council for Women, said "Our Partnership with ALEXBANK is the first step to implement the protocol signed with the Central Bank of Egypt. The National Council for Women aims at developing mechanisms to expand financial inclusion to ensure women's access to financial and non-financial services in every Governorate and village in Egypt. stressing that this This partnership is in line with the Egyptian National Women Strategy 2030" In order to pursue the protocol’s objectives, with the support of the NCW ALEXBANK will develop a bundle of financial and non-financial services specifically designed to satisfy women in business needs, in addition to launching a series of products and services supported by simplified friendly processes, designed to result more attractive to clusters of rural areas’ marginalized population, normally less incline to access the formal financial sector" she affirmed.
Dante Campioni, Managing Director & CEO of ALEXBANK, stated: ''Our partnership with the National Council for Women will affirm as clear example of win-win achievement, as while widening its outreach to new layers of potential customers, our bank will approach communities currently marginalized however able to multiply their contribution to the national economy’s development if properly empowered, supported and accompanied towards the formal economy. In this way the competitiveness and the productivity of local Micro and Small Sized Enterprises can be boosted, accelerating the wealth creation also in areas currently economically disadvantaged. This initiative will in turn help to create job opportunities especially for women and youth, also formalizing cash flows and women’s savings, serving the objectives of Egypt's national programs and Egyptian National Women Strategy 2030''.
The protocol also includes the development of a series of social media based educational webisodes to spread in a facilitated manner a better knowledge of banking products and terminologies, in addition to the development of additional educational materials, both printed and digital. The aim is also to launch a new mobile application, housing the various resources and to provide easy access to information & financial advisory tools through videos and infographic style contents.