Mashreq Bank – Egypt has launched the new Turbo Loan product, to provide financing for the country’s business community and the self-employed.
The introduction of the new product is based on the bank’s belief that those working in these two segments form the backbone that drives economies forward.
Amr El-Bahey, CEO of Mashreq Bank – Egypt, said, “Helping our customers realise their full potential through our banking services is something we are proud of.”
He added, “I strongly believe in the importance of the business sector, and the launch of this product is a testament to our commitment to this community during these difficult times.”
Haitham Hammad, Executive Vice-President of the bank, said that the Turbo Loan is a pioneering product in the Egyptian market. Its introduction will ensure that quick credit approvals can be granted within 48 hours, with credit limits of up to EGP 750,000 and long repayment periods of up to seven years.
He added, “We believe in this sector and we are happy to support businessmen who play an important role in developing the country and providing jobs for others.”