ABE expands banking services in South Sinai, opens newest branch in Sharm El-Sheikh

Hossam Mounir
4 Min Read

Khaled Fouda, Governor of South Sinai, and Alaa Farouk, Chairman of the Board of Directors of the Agricultural Bank of Egypt (ABE), inaugurated the bank’s newest branch in Sharm El-Sheikh and the bank’s office in Sharm El-Sheikh International Airport, within the framework of the bank’s keenness to expand its branch network and provide all banking and financing services in the highest quality to customers. 

The inauguration was attended by Sherif Loqman, Deputy Governor of the Central Bank of Egypt (CBE) for Financial Inclusion; Abdel Salam El Gabaly, Chairman of the Senate Agriculture Committee; Sami Abdel Sedik, Vice Chairman of the Board of Directors of ABE, and Ahmed El Iskandarani, Secretary General of the Governorate, and popular and executive leaders in the governorate of South Sinai.

The Sharm El-Sheikh branch, which is located on Al-Salam Road, is the latest branch opened by the bank in the South Sinai governorate, and provides all banking services to the bank’s clients in Sharm El-Sheikh, as well as financing services that target a large segment of investors in the tourism sector and development projects that the province is experiencing.

The branch also includes an office for entrepreneurs’ services within the NilePrenerus initiative launched by CBE, to support youth projects and help them launch medium and small enterprises, which reflects the bank’s management’s efforts.

The office of ABE, which is located in the international terminal at Sharm El-Sheikh International Airport, provides banking services to tourists during their trips 24/7, especially with regard to changing foreign currencies, opening accounts and obtaining bank cards of all kinds to be used during their stay in Egypt.

Khaled Fouda, Governor of South Sinai, said that the opening of the ABE new branch and the airport office in Sharm El-Sheikh coincides with the national day of South Sinai, which includes opening a number of important projects that serve a wide segment of the people of the governorate, to continue the development efforts that South Sinai is witnessing.

The governor appreciated the efforts of constructive cooperation between the governorate and the bank to support development efforts in Sinai and maximize capabilities in attracting investment in all fields, in addition to the bank’s role in providing financing for small and micro enterprises that serve a wide segment of the people of the governorate to provide jobs and improve the standard of living, especially for youth and women. Sinai.

For his part, Alaa Farouk, Chairman of the Board of Directors of ABE, said that the bank is keen on expanding its branch network across the country, especially the border governorates and new development areas. This effort aims to attract more customers from various categories of customers to deal with the banking system, within the framework of the bank’s endeavor to achieve the strategy for financial Inclusion. The bank also seeks to diversify its banking services to serve new segments of customers.

Farouk pointed out that South Sinai Governorate is one of the most promising developmental governorates, with its natural and human resources and the comprehensive development it is witnessing. Therefore, ABE seeks to be present in the governorate and expand its banking and financing services, in implementation of the directives of the President to achieve comprehensive development in Sinai.

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