Hany Seif El Nasr, chairperson of the Arab Investment Bank, assured that the bank is strongly participating in the initiative through its presence in recreational clubs, distributing flyers on financial inclusion, and introducing a number of products that fit all segments of society, along with opening bank accounts free of administrative fees and exempted from a required minimum balance. He added that the bank saw demand from clients for opening bank accounts, especially from youth at clubs and youth centres.
This comes within the framework of the initiative posed by the Central Bank of Egypt (CBE) for the promotion and establishment of the concept of financial inclusion, which works to include the largest amount of society in the financial system and utilise its positive impact on the stability of the financial sector in the country, as well as achieve increases in economic growth. This also comes as part of the bank’s social role in caring for the limited and middle-income segments, women, and small and medium enterprises.
El Nasr explained that the Arab Investment Bank is working hard to develop products, enhance customer confidence, and participate in educating customers on how to use and benefit from financial products and services, as well as expanding the network of financial service providers and establishing small branches to finance small projects and increasing the number of ATMs in order to expand the scope of providing financial and banking services to activate financial inclusion.