Belmazad.com has signed an operating agreement with the National Bank of Egypt (NBE) to digitize asset marketing and sales, enhancing efficiency, transparency, and reach through electronic public auctions.
The partnership aims to streamline asset sales processes by leveraging technology-driven solutions that improve auction performance and customer engagement. Ahmed ElSaid, Chief Investment Officer at NBE, described the collaboration as a strategic milestone for the bank’s Investment Trustees Sector, noting its role in maximizing returns, accelerating digital transformation, and integrating artificial intelligence to boost operational efficiency.
Mahmoud Farahat, Co-Founder of Belmazad.com, highlighted the significance of the agreement, emphasizing that NBE’s extensive portfolio of marketable assets will provide investors with diverse, high-value opportunities through Belmazad’s digital auction platform. He added that the platform’s AI-powered visualization and VR technologies will allow investors to explore assets remotely, enhancing transparency and informed decision-making.
Omar El Dewey, Co-Founder of Belmazad.com, announced a complementary agreement with NBE to implement an escrow account mechanism for transactions conducted through the platform. This system ensures secure payment processing and completes Belmazad’s fully digital operating framework, enabling every stage of the customer journey—from registration and bidding to payment and settlement—to be conducted electronically.
Both parties emphasized that the collaboration will expand investment opportunities, strengthen governance standards, and reinforce Belmazad.com’s position as a pioneer in Egypt’s digital auction market. Looking ahead, Belmazad.com plans to broaden its marketplace by attracting financial institutions, corporations, and major asset owners through transparent, technology-driven sales channels.
