The United Bank participated today in the annual conference of El Ahram Economy magazine, under the patronage of Dr. Mostafa Madbouly the Prime Minister. The opening speech was delivered by Dr. Hala Al-Saeed - Minister of Planning, in the presence of Dr. Khaled Al-Anany - Minister of Tourism and Antiquities, Abdel Mohsen Salamiya - Chairman of the Board of Directors of the El Ahram Foundation, and Sherif Abd El Baqi - President of El Ahram Economy magazine and a group of economic, financial and business men.
Under the title of "The banking sector, initiatives that faced the crisis and supported the economy", Farag Abd El Hamid - Vice Chairman of The United Bank participated in the first session of the conference. In the presence of: Ahmed Galal - Vice Chairman of The Export Development Bank, Walid Nagy - Vice Chairman of The Egyptian Arab Land Bank, Mohamed Khairat - Head of the Corporate Credit and Loans Sector at Banque Misr, and Nader Saad - Head of the Small and Medium Enterprises Sector at Banque du Caire, with the participation of Ashraf Bahy El Din - Deputy Governor of The Central Bank for Banking Affairs, and the session was directed by Hussein Al-Refay - Chairman of Suez Canal Bank.
In his speech, Farag Abd El Hamid indicated that The United Bank's strategy aims to achieve the difficult equation between the criteria of sustainable institutional growth and giving an added value to society, specifically to the Egyptian citizen, to improve his life according to the vision of the Egyptian state and the directives of The Central Bank of Egypt through banking and digital solutions that have basic characteristics: innovation, continuous development, training, work, and increasing productivity for customers and the bank alike as well as technical advice and digital banking technologies.
Farag added that The Central Bank of Egypt was proactive in its initiatives aiming to protect the national economy and stimulate it for sustainable growth as well as opening horizons for new investment opportunities for banks and create banking products that suits with the needs of the citizen and are in the interest of comprehensive development goals in accordance with Vision 2030.
He added that The United Bank participated in all national initiatives under the leadership of the Central Bank of Egypt on the economic and social axis:
First: The Economic Initiatives Axis:
There were many measures on the economic and social side and the national initiatives adopted by The Central Bank of Egypt, which gave these exceptional policies of The World Bank and international financial institutions a new certificate of confidence that the Egyptian state is serious in completing the economic reform process which contributed in accelerating the process of grants for additional financing to Egypt to enable it to maintain the gains of economic development programs.
The United Bank, through the "Nile Pioneers" initiative of the Central Bank of Egypt, provides technical and financial support to a number of small and emerging projects. In cooperation with Egyptian universities such as: Nile University, Mansoura University and Cairo University. The most prominent of these are 5 projects in the field of dairy production and plastic manufacturing.
As well as financing the first Egyptian-made and environmentally friendly electric car. As well as funding the talking glasses that help handicap persons in their daily lives.
Also, The United Bank supported the students of the Faculty of Engineering, Cairo University, in designing the first solar-powered and environmentally friendly car
Second: Social Initiatives Axis:
The United Bank launched the financing product for converting cars to operate with natural gas on the sidelines of the first exhibition of technology for converting and replacing vehicles with clean energy, Go Green, under the patronage of the President of the Republic and in coordination of the Ministry of Trade and Industry, the Central Bank of Egypt and a number of relevant ministries.
The Central Bank of Egypt has allocated 15 billion Egyptian pounds for this initiative aiming to maximize the Egyptian citizen's benefit from the gains of economic reform through:
The presidential initiative for real estate finance and the decisions of The Central Bank of Egypt brought about a qualitative leap in the real estate market, and a leap in the real estate investment sector in Egypt. This is due to the high demand of the low- and middle-income category, which represents 60-70% of the Egyptian people, to buy housing units in the various governorates of the Republic.
The United Bank is one of the seventh largest financiers of real estate finance for the category of low and middle income, according to the report issued in the first month of June 2021 on the Social Housing Fund and the support of real estate finance, with a volume of grants that exceeded one billion.
The United Bank has concluded a series of agreements with major real estate investment companies, the most recent of which was City Edge. The United Bank also signed a joint cooperation agreement with the Social Housing Fund and real estate financing support, worth 2 billion EGP. Also, it signed an agreement with the Journalists Syndicate to finance the purchase of 1108 housing units for the media elite according to the initiative of The Central Bank of Egypt.
The United Bank's distinguished real estate financing programs come in 8 of Upper Egypt governorates: Fayoum - Beni Suef - Meniya - Assiut - Sohag - Qena - Luxor - Aswan. It also provides real estate financing services for low- and middle-income people in 4 governorates in the Canal Zone: Port Said - Suez - Ismaileya and the Red Sea as well as 9 cities in the new urban communities: 6th of October - 10th of Ramadan - Obour – El Shorouk - Badr – Bourg El Arab - Nubaria - New Damietta and New Alamein City. There are also 7 governorates in Lower Egypt and the Delta, Menoufeya - Gharbeya - Beheira - Kafr El Sheikh - Sharkeya - Dakahleya - Cairo.