QNB official: CBE initiatives contribute to boosting SMEs sector

25 / 11 / 2024

By Marwa Zein

Ahmed Fouad, Head of SMEs Banking & Microfinance Division – Qatar National Bank (QNB) Egypt, said that the initiatives launched by the Central Bank of Egypt (CBE) have contributed to boosting the small and medium sized enterprises (SMEs) sector that positively affects the national economy.

He made the remarks during the 3rd Egypt Business Solutions Summit, held under the patronage of Prime Minister Mostafa Madbouli.

Fouad added that Egyptian banks prioritize providing financing and offering facilities for this sector in their annual agendas, which include both financial and non-financial services.

The QNB official referred to the CBE’s initiative to support SMEs at a rate of 5%, as well as initiatives to finance the industrial and agricultural sectors.

He asserted that Egyptian banks would continue to buttress this sector.