Misr Insurance — one of the companies of the Misr Insurance Holding Group — won a bid to insure the financing portfolios granted by Nasser Social Bank to clients who own small and micro enterprises (SMEs).
Accordingly, Misr Insurance will provide its comprehensive insurance services to the bank and its clients through a number of insurance coverages represented in insurance on the bank’s property, insurance against non-payment risks, personal accidents, and property for the bank’s clients who are owners of SMEs.
For its part, Misr Insurance was keen when pricing these insurance services and products that the rate of the calculated premiums is commensurate with the income of the bank’s customers in order to take into account the social and economic dimension of these groups and in belief in the national role and social responsibility of the bank.
Furthermore, the managements of the company and the bank stressed in a joint statement the need for cooperation between the two national institutions to achieve the desired goals of the state’s political leadership in supporting and encouraging these groups and advancing them socially and economically, eliminating unemployment, reviving the national economy, and working on the success of the government and the Central Bank of Egypt’s initiatives in this regard.
Mohamed Ashmawy — Vice Chairperson and Managing Director of Nasser Social Bank — said that this move is part of the bank’s efforts to diversify its financial and banking services and products to meet all the needs of its customers from all segments of society, thus contributing to achieving financial inclusion by providing products and solutions from the insurance company through the bank’s branches across the country to reach the largest segment of customers and to facilitate obtaining insurance services.
He also pointed out that the bank provides many banking services and finances that meet the various needs of customers — including pensioners and public and private sector employees — on concessional terms, including investment finance and income improvement for new small business owners to create new job opportunities for young people as well as improving the standard of living and financing the purchase of participatory transportation, funding for nurseries, hidden financing for women, financing for school expenses, marriage financing, and financing based on guarantees of deposits and investment certificates.
Omar Gouda — Managing Director and CEO of Misr Insurance — said that this cooperation comes within the framework of the ambitious strategy pursued by the company in order to extend its insurance umbrella to all segments of customers, meet all their requirements, and innovate insurance products that meet their needs.