PBDAC is best placed to achieve financial inclusion as it reaches 50% of Egyptians: chairperson

Daily News Egypt
1 Min Read
El-Sayed El-Qosayer chairperson of the The Principal Bank for Development and Agricultural Credit (PDBAC) Photos by Nagy Youssef

With a customer base of one million clients, the Principal Bank for Development and Agricultural Credit (PBDAC) is the most capable bank in achieving financial inclusion, reaching 50% of the Egyptian people, said bank chairperson El-Sayed El-Qosayer.

He told Daily News Egypt that there are some six million farmers in Egypt and another four million people serving as temporary agricultural labour, resulting in a total of 10 million people.

“If each of them [agriculture labourers] cares for a family of five people, the bank can extend its services to 40-50% of Egyptians,” he added.

With the support of the state and the Central Bank of Egypt, the PBDAC would be the best suited bank to work towards financial inclusion, El-Qosayer said.


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