Sponsored by The Central Bank of Egypt and Nile National University

17/02/2019


Ashraf El Kady: Chairman of The United Bank
• The "Nile entrepreneurs " initiative supports Egyptian innovative minds in the field of financial technology and artificial intelligence.
• What we are witnessing from creative thought and effort confirms that we are on the path to transformation to a digital society.
• State initiatives and entrepreneurship incubators are among the most important mechanisms of economic development.
• Encouraging the Egyptian investor contributes to changing the culture of the job and contributes to the integration of the parallel economy in the official


The United Bank today participated in the "Nile Entrepreneurs " initiative under the auspices of The Central Bank of Egypt and the Nile University in cooperation with a number of banks, universities and many local and international entities to support SMEs enterprises and promote domestic production.
Dr. Tarek Amer, Governor of The Central Bank of Egypt, Dr. Tarek Khalil, President of Nile National University, Dr. Ashraf Sobhy, Minister of Youth and Sports, Dr. Hala El Saied, Minister of Planning, Follow-up and Administrative Reform, a number of ministers and leaders of The Central Bank of Egypt, Information on the Egyptian market witnessed the launching of the "Nile entrepreneurs " initiative today.
Signing 2 Protocols to Support the "Nile Entrepreneurs " Initiative
The activities of the "Nile entrepreneurs " initiative included the signing of 2 cooperation protocols between The Central Bank of Egypt and The Ministry of Youth and Sports as well as the signing of a protocol between the Ministry of Planning and Follow-up and Administrative Reform and Pioneers of 2030.
The United Bank's participations
Under the slogan "Ideas and Innovations of the Youth of Egypt from Dream to Reality", The United Bank participated in the "Nile Entrepreneurs " initiative with a smart package of services and important banking and technological solutions that serve the SMEs sector and entrepreneurship. And contribute to the rehabilitation of the youth of Egypt and enable them to lead the nation in the future and ensure the achievement of sustainable development through active participation in the transformation of the non-monetary community.
Commenting on the participation of The United Bank in the activities of "Nile Entrepreneurs " Chairman of the Bank, Ashraf El Kady, said that the "Nile entrepreneurs " initiative, sponsored by The Central Bank of Egypt and Nile University, aims to support the innovative Egyptian minds in the field of financial technology and artificial intelligence. Through the provision of smart banking solutions, whether financing or service innovative to serve the ideas of young entrepreneurial projects.

A national strategy for the care of the creators
El Kady said that what we are witnessing of creative thought and effort confirms that we are on the path of real transformation of a digital society, and supported by a national strategy and policy by the Egyptian state and The Central Bank of Egypt to achieve sustainable development. As well as the policy of transforming Egypt into a global regional service delivery center for global financial technology. In addition to the Supreme Council of Payments and its effective policy to stimulate citizens to enter within the system of financial inclusion and reduce the process of circulation of cash and the inclusion of lower income groups and remote areas and marginalized within the banking system and then merge the parallel economy formal.
Ashraf El Kady said that smart electronic banking services contribute to motivating customers to deal with the banking system, especially the youth. Which increases the chances of enjoying other banking services whether savings or financing. Especially the increase in the volume of investments in the sector of small and medium-sized enterprises, entrepreneurship and other productive projects that benefit the national economy and contribute to increase domestic production.
Entrepreneurship incubators at The United Bank
He pointed out that entrepreneurship is one of the most important mechanisms for economic development. In order to maximize the role played by the SMEs sector in achieving the sustainable development of Egypt in accordance with the 2030 Vision.
Therefore, the Bank has established a specialized department for entrepreneurship and technological incubators, which aim to nurture, develop and develop creative ideas and start ups and transform them into productive projects.
El Kady said that the mission of this administration lies in two pivots: the first is to provide consultations on the feasibility study for small and medium enterprises and entrepreneurship and financial support, administrative and marketing.
The second pivot is the provision of various means of banking transactions and electronic payment. Through many smart applications including: Mobile banking and the Internet banking and also digital wallet. The bank also offers corporate solutions including cash management, as well as commercial and logistics services, as well as electronic and government payments such as customs and taxes. Thus reducing time and increasing the profits of these institutions.
A brief on "Nile Entrepreneurs "
The initiative of the “Nile Entrepreneurs” is one of the most important national strategic initiatives to nurture and embrace the youth of Egypt to transform their developed ideas into a reality in the fields of developing entrepreneurship, marketing, technology transfer, innovation and competition.
It is planned to open 30 centers for the development of Entrepreneurship under the initiative of Nile Leaders in about 16 governorates of the Republic, which should be increased to cover the rest of the Egyptian state with the banks' headquarters in the different governorates.
The initiative aims to develop the capabilities of entrepreneurs and support the strategy of empowering women economically, encouraging local industry and technology and expanding digital applications to support the agricultural sector, which helps to meet the needs of the Egyptian market, increase employment opportunities and eliminate unemployment.