MID Takseet, a consumer financing company owned by MIDBANK, held a roundtable to discuss its latest updates and developments since its launch. The company also highlighted the services it offers to its customers in Egypt. The round table was attended by Sameh Montasser, Chairperson of MID Takseet, Hany Abdel Wahab, Commercial General Manager of MID Takseet, and a group of Egyptian media representatives and journalists.
The round table was part of MID Takseet’s strategy to provide the best financing services to its customers, meeting their expectations and demands for various needs with high quality. The company also aims to expand the non-banking retail sector and target new segments of customers by increasing the number of products and services available to individuals. This aligns with the objectives of the Central Bank of Egypt to achieve financial inclusion in accordance with the 2030 Vision.
Sameh Montasser, Chairperson of MID Takseet, said: “MIDBANK launched MID Takseet with a licensed capital of EGP 150 million, imported by EGP 100m, and paid in the amount of EGP 100m. This was after a careful study of the consumer financing market in Egypt. He added that MID Takseet strives to reach the highest level of credibility and innovation and make entertainment an integral part of its customers’ lives.”
He also said that MIDBANK has achieved remarkable results since its launch in 2022. The company has financed the needs of about 16,000 customers, with total financing amounting to approximately EGP 180m. He pointed out that the company aims to increase its share in the consumer financing market to about 10-15% within 3 years.
He further explained that MID Takseet offers installment services through a mobile application, which simplifies the activation process and grants financing to customers. Customers can obtain financing in installments for goods and services such as durable products, educational services, home finishes, furniture, and others. This helps improve the level of financial investment for customers and ease their daily lives in safe and fast ways with low risk. The company also provides the best non-banking solutions experience by offering a full range of advanced financial services that enable growth for both the company and its customers.
Moreover, he stated that MID Takseet provides a range of unconventional financing solutions, which feature innovative programs that contribute to increasing financial inclusion in line with technological and digital development. He noted that the service comes amid strong competition in the consumer financing market and positions the company as one of the main players in the field.
Regarding the services provided by MIDBANK, Hany Abdelwahab, Commercial General Manager of MID Takseet, demonstrated that the company is keen on providing diverse financing solutions that include consumer products and other services such as home finishes and household equipment. The company partners with many commercial centers and major brands that offer various and new packages of exclusive offers that cater to all customers’ needs and provide them with the best purchasing experience.
He also pointed out that MIDBANK targets providing the best financing solutions to levitate the level of financial planning for customers to live the life they desire and ease providing their needs of various services. In this regard, about 200 merchants and commercial brands have been contracted to provide services to MID Takseet customers that provide a comfortable purchasing experience, feature the easiest installment methods that are compatible with the income of each customer without the need to divide their purchases, and provide all the installment methods in Egypt without guarantees, as well as enable MID Takseet customers to purchase now and pay later.
Regarding the geographical expansion of the MID Takseet service, he explained that the service is available to all its customers and can be obtained through the available application on Android systems, the App Store, and the App Gallery, pointing out that the service allows the purchase of many electrical and electronic appliances and services, including spare parts for vehicles, travel and tourism, fashion, bicycles, watches, jewelry, home furniture, health and beauty, education and fitness, air conditioning and filters.
