Cairo, April 17, 2025 – As part of its ongoing commitment to supporting Egypt’s national economic agenda and advancing financial inclusion initiatives, First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, signed a collaboration protocol with the Micro, Small and Medium Enterprise Development Agency (MSMEDA) on 17/4/2025. The signing ceremony was attended by several senior officials and banking sector representatives, including the CEO of FABMISR, the Executive Director of MSMEDA.

Driven by their shared goals and commitment to fostering economic and social development, both parties agreed to join forces in line with the national strategy aimed at integrating all segments of society into the formal banking system. The agreement focuses on encouraging citizens, especially owners of micro, small, and medium enterprises, to transition into the formal economy. Through this partnership, FABMISR and MSMEDA plan to expand the agency’s services across 15 governorates nationwide, with a special focus on productive clusters. The initiative will also raise awareness among entrepreneurs and business owners about Law No. 152 of 2020, encouraging them to formalize their status and unlock greater opportunities for growth and expansion.

Commenting during the signing, Mr. Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, stated: “At FABMISR, we are committed to promoting financial inclusion as part of our alignment with Egypt’s Vision 2030. Our focus lies particularly on attracting unbanked citizens and facilitating their access to affordable financial services tailored to their needs, thereby supporting their integration into the formal economy. We also place great emphasis on fostering financial literacy across different segments of society, helping individuals understand the importance of financial planning and money management. Additionally, we strive to extend banking services to underserved rural and remote areas, while supporting microenterprise owners in various productive communities.”

From his side, Mr. Bassel Rahmy, Executive Director of MSMEDA, added: “We strongly believe in the importance of collaborating with development partners and major financial institutions in Egypt to activate financial inclusion strategies, promote a culture of entrepreneurship, and support digital and technological transformation policies, an essential component in developing micro and small enterprises. These policies play a pivotal role in enabling projects to benefit from both financial and non-financial services provided by the state and the banking sector. They also help enterprises gain access to financing and innovation opportunities, enabling them to grow and scale, efforts that align with the directives of Prime Minister Dr. Mostafa Madbouly, Chairman of the Agency’s Board of Directors.”

This collaboration reflects the pivotal role played by FABMISR as a leading bank in the Egyptian market, offering a comprehensive suite of banking and investment services tailored to diverse customer segments across the country. Through its expansive branch network covering all governorates, the bank consistently upholds a set of core values centered on driving economic growth, empowering individuals and businesses, and actively contributing to financial inclusion. This underscores FABMISR’s ongoing commitment to building a more inclusive and resilient economic future for Egypt.