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Banque du Caire issues 36,000 Aman certificates worth EGP 38.2m: bank chairperson - Daily News Egypt

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Banque du Caire issues 36,000 Aman certificates worth EGP 38.2m: bank chairperson

There are other purchase requests under implementation worth EGP 213m, 10 bank clients won in first draw for holders of certificate, says Fayed

Banque du Caire has issued 36,000 Aman certificates (security certificates) worth EGP 38.2m since their launch in March 2018 up until now, according to Tarek Fayed, the chairperson and CEO of the bank.

He added that the demand on buying the certificates increases day by day, noting that some requests for purchasing the certificates are under implementation and worth about EGP 213m.

According to Fayed, the certificate offers several benefits to the clients of the bank who own micro projects. They are about 160,000 clients with professions, activities, and limited capital. The certificates contribute to insurance protection of these segments and provide their families with a better future, noting that 10 of the bank’s clients have won the first draw that was recently held for the holders of the certificate.

“Aman is consistent with the state’s trends and efforts to protect low-income groups and improve their living conditions, as well as support and disseminate financial inclusion,” Fayed said.

He stressed that issuing these certificates is an important step through which the state can support seasonal and temporary employment, as well as workers who do not have a fixed income, and supporting women towards achieving sustainable development.

Aman certificates are issued in categories of EGP 500 and its doubles, with a maximum of EGP 2,500. The value of their monetary compensation in the case of a natural death ranges from EGP 10,000 for the EGP 500 category to EGP 50,000 for the EGP 2,500 category. In the case of death by accident, the compensation value ranges from EGP 50,000 for the EGP 500 category to EGP 250,000 for the EGP 2,500 category.

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