His Eminence Al-Azhar Grand Imam and Chairman of the Board of Trustees of the Zakat and Charity House, Prof. Ahmad Al-Tayyeb, witnessed the signing of a cooperation protocol between the Zakat House and Banque Misr to issue prepaid cards (Co-Branded Cards) so that the Zakat and Charity House can add monthly allowances to those eligible via bank cards.

 

The cooperation protocol was signed by Prof. Sahar Nasr, Executive Director of the Zakat and Charity House, Advisor to His Eminence the Grand Imam, and Mr. Mohamed El-Etreby, Chairman of the Board of Directors of Banque Misr.

 

The signing of the protocol was attended by Mr. Ihab Dorra, Head of Branches and Retail Sector at Banque Misr, and a group of leaders from the Zakat and Charity House and the bank.

 

A statement issued by the Zakat and Charity House today, Tuesday, June 11, 2024, clarified that under this protocol, the bank will issue prepaid cards (Co-Branded Cards) specifically designed to add monthly subsidies from the Zakat and Charity House to those eligible to these bank cards instead of using cash transfers, in line with the state’s orientation towards digital transformation. The protocol aims to provide banking services to social groups that are not covered by the banking sector.

 

Prof. Sahar Nasr said, "We seek, through the cooperation protocol with Banque Misr, to facilitate the access of those entitled to the services of the Zakat and Charity House to monthly subsidies, based on the directives of His Eminence the Grand Imam of Al-Azhar Al-Sharif, to provide the best service to all those entitled to zakat and charity from the House. "

 

She pointed out that the Zakat and Charity House seeks to adopt all electronic and technological solutions that facilitate the reception and distribution of zakat and charity funds to those who deserve them as quickly as possible. She pointed out that the Zakat and Charity House has provided many community initiatives, such as cash support for needy families, widows and divorced women, in addition to medical services, alleviating the distress of debtors, both men and women, facilitating the marriage of poor girls, maintaining orphans, and providing medical assistance to people with disabilities.

 

Mr. Mohamed El-Etreby, Chairman of the Board of Directors of Banque Misr, pointed out that signing this protocol comes within the framework of the bank’s pioneering role in the field of electronic payments. It enhances the bank’s plan to expand the provision of digital services through various electronic channels within the framework of Banque Misr’s constant endeavor to localize advanced technological services in its various dealings, in a way that ensures keeping pace with global development. He pointed out that Banque Misr achieved distinguished growth rates in 2023, amounting to 95% of the total value of the electronic payment acceptance portfolio (53% of points of sale and 300% of websites) with a total of 640 thousand points of sale and more than 6 thousand websites. The bank also provided its customers with many digital services through the mobile banking application, such as the instant transfer service of the account number or bank card or to the instant payment address (IPA). It has also activated instant debit cards and credit cards and purchasing and redeeming certificates, which saves the customer time in obtaining banking services instead of going to the branch. Customers can also conduct their banking transactions remotely (online) to ensure achieving added value reflected in the digital products provided to the customer, and work faster to provide an excellent banking experience for customers that meets their needs and keeps pace with the changes in the financial field.

 

Mr. Ehab Dora, Head of Branches and Retail Sector at Banque Misr, confirmed that the bank’s participation in this protocol comes in line with the state’s policy to spread the culture of financial comprehensiveness, activate electronic payment and collection services, and gradually shift towards a cashless society. This enhances the goals of the National Payments Council in transforming into a society less dependent on cash, with the aim of supporting growth and enabling more segments of society to obtain appropriate financial solutions, and contributes to facilitating electronic financial transactions for citizens in a safe and effective manner.