Foreign Ministry, Banque Misr, e-finance partner to support digital transformation strategy

Sami Hegazi
2 Min Read

Minister of Foreign Affairs Sameh Shoukry, Chairperson of Banque Misr Mohamed Al-Etreby, and Chairperson of e-finance Ibrahim Sarhan witnessed the signing of a tripartite agreement between the three sides to activate electronic collection systems in line with Egypt’s 2030 Vision to achieve digital transformation.

Ahmed Hafez, the Spokesperson for the Ministry of Foreign Affairs, said that as an initial step, the ministry has worked with Banha University to develop and host the ministry’s online payment platform.

He added that the ministry has coordinated with Banque Misr and e-Finance to conclude an agreement on electronic collection services for fees related to applying for appointment to a post in the diplomatic and consular corps — which will be announced soon — as the first phase of the platform’s work.

The ministry is also working with Banque Misr to establish a mechanism that would allow Egyptian citizens abroad to open personal accounts and invest their money and savings in the various investments offered by the bank.

Moreover, Hafiz said work is under way to develop the relevant financial and legal mechanisms in co-ordination with the bank to facilitate procedures for opening these accounts and to guarantee all rights for all parties. The procedures for this mechanism and the date of its launch will be announced at a later date.

The mechanism comes as part of the ministry’s continuous efforts to strengthen ties with Egyptians abroad and to provide a safe platform for those who wish to invest their savings in Egypt, which would contribute to increasing foreign currency flows.

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