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ALEXBANK reveals bank initiatives and offers

Contributing into empowering thousands of women

Aiming at Creating Shared Value for Egyptian women, ALEXBANK celebrated Women’s Month throughout March 2021 by carrying out several internal and external initiatives impacting the lives of thousands of women all across Egypt. These initiatives sought to enable women to meaningfully contribute in the country’s economic and social development, through empowering them to establish sustainable businesses, achieve financial independence, and improve their overall livelihoods.

ALEXBANK contstantly supports women in different sectors through complimentary series of banking and CSR intitiatives, to enable women and empower them in achieving new milestones. Following its strategy for Sustainable Development, in line with the Central Bank of Egypt directions and Egypt’s 2030 Vision, ALEXBANK acts on 5 main dimensions: Financial Inclusion and Sustainable Finance, Economic Development, Social Innovation and Education, Environmental Sustainability, and Employee Engagement.

 “Supporting the CBE directions towards financial inclusion, ALEXBANK pursues women’s empowerment through its business channels. Accordingly, we focused on facilitating female access to our services and products during the Women’s Month, providing women with several value added services and motivating their inclusion into the financial sector through promotions which resulted  in a female contribution equal to 63% of the whole bank’s newly opened accounts this month. We are also constantly working with several key partners to develop innovative banking solutions, to include more women from marginalized communities across Egypt, while raising their financial literacy and easing their integration into the banked population” said Sherif Lokman, Head of Retail and SMEs Division at ALEXBANK  

As such, ALEXBANK celebrated Women’s Month by exempting female clients from the opening fees of its ALEX Go current account and YOUTH savings accounts, and canceling the minimum limits for the ALEX Go current account, Savings account, Tawfeer Plus Savings account, and YOUTH account, while adding EGP 150 worth of ALEXPOINTS to the clients’ accounts. This is in addition to a dedicated cards promotional campaign for Mother’s Day.

On her part, Laila Hosni, Head of CSR and Sustainable Development Office at ALEXBANK added “We firmly believe that empowering women empowers the Egyptian community as a whole. Through ALEXBANK’s flagship women empowerment proposition “Ghalya” (Arabic wording for “precious”), we have positively impacted the lives of over 3,500 women, providing them with the tools to establish or develop sustainable businesses and improve their welfare. Internally, the bank is strongly committed to applying a gender parity policy offering equal opportunities, with the aim to constantly increase the female presence in the managerial team.” 

Under “Ghalya” and as part of ALEXBANK’s Gifts with Impact program, ALEXBANK collaborated with “Threads of Hope” Center, creating gifts by the hands of Egyptian and refugee craftswomen, that also included medical masks made by the craftswomen of “Kheir w Baraka” in collaboration with the National Council for Women through its “Taa Marbouta” initiative. This, in addition to fueling the collaboration between the rising jewelry designer Jude Benhalim and “Baddara” social entreprise, to produce gift pouches by the hands of girls and women from Dahshour and the New Valley.

Furthermore, during March, ALEXBANK took part in the launch of a new partnership with the Sawiris Foundation for Social Development and the Azza Fahmy Foundation, aiming at “Reviving Handicrafts in Aswan”. The initiative was presented  through a webinar under the theme “Efforts into Empowering Egyptian Women”. The project aims at reviving and document the art of jewelry making in the Aswan Governorate over 3 years, under “Ebda3 Men Masr” and “Ghalya” initiatives. 

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