The United Bank of Egypt created a specialised unit for technical and advisory support for non-financing of entrepreneurs. This comes in order to help them prepare the project, put forward a business plan, follow up almost daily to ensure the continuity of the success of the project and achieve the return on investment funds, according to Ashraf El Kady, the bank’s chairperson.
He pointed out that sometimes it is necessary to support the small investor, by providing a range of banking services, whether in accordance with the provisions of the Sharia or traditional banking, including entering in the capital partnership, or to provide the necessary financing through Murabaha, which is only provided by the United Bank in the Egyptian market. This is in addition to a bouquet of smart digital banking services.
“The strategy of the United Bank is to develop the sector of small, medium, and micro enterprises (SMEs), giving priority to existing projects in the SCZone and the Golden Triangle, especially in the fields of feeder industries, tourism, urban, technological, petrochemical, shipbuilding, and energy,” said El Kady.
He added that the bank enjoys the competitive advantages of the governorates of Egypt, in terms of the main activities of the population in each province, whether industry, agriculture, or trade, to maximise the return both at the level of internal and external trade.
United Bank has participated in the events of the World Youth Forum (WYF) held in Sharm El-Sheikh from 4-10 November 2017.