The Agricultural Bank of Egypt (ABE) and the Misr Life Insurance Company signed an agreement through which the bank allows the company to market and provide its services and insurance programs through 100 branches of the bank in the villages covered by the first phase of the presidential initiative Decent Life.
The agreement aims to contribute to the implementation of the objectives of the Decent Life initiative, by providing all its banking and financial services and ensuring that they reach a wide sector of the rural population.
Chairperson of the Agricultural Bank of Egypt Alaa Farouk said that this step boosts the bank’s efforts to diversify its banking services and products.
He indicated that the bank aims to meet the needs of its customers from all segments of society, in a way that contributes to achieving financial inclusion, under the directives of the Governor of the Central Bank of Egypt Tarek Amer.
He added that the signing of the agreement coincides with the celebration of the activities of the World Financial Inclusion Week and the International Savings Day, which confirms the bank’s efforts to become a leader of financial inclusion in Egypt.
Chairperson and Managing Director of Misr Life Insurance Ahmed Abdel confirmed that the company is working to expand insurance products and services for customers. This includes bank insurance, which has become a major supporter of achieving a boom in insurance activity.
He praised the cooperation with the ABE, saying that it will achieve many benefits for both parties and its effects will be reflected in providing distinguished services.
He stressed that ABE enjoys an extensive branch coverage nationwide, and thus this spread will contribute to supporting financial inclusion by providing insurance products and solutions through the bank’s branches, and facilitate them to obtain insurance services, which helps them achieve their financial goals and insures them against risks.
He stressed that the company will work to provide a variety of insurance programs that meet the needs of a broad sector of the rural population, especially farmers and small farmers, and all workers in the agricultural sector and related activities.