بنك البركة – مصر يحقق إنجازات نوعية في التحول الرقمي والشمول المالي خلال 2024
بنك البركة – مصر يحقق إنجازات نوعية في التحول الرقمي والشمول المالي خلال 2024 هذا هو موضوع مقالنا عبر موقعكم «احوال دمياط»، حيث نجيبكم فيه على كافة الاسئلة، ونلقي الضوء على كل ما يهمكم في هذا الموضوع ..فتابعو السطور القادمة بمزيد من الاهتمام.
38 Al Baraka Bank – Egypt achieved multiple qualitative achievements during the year 2024, as the bank continued to provide innovative banking services in line with the provisions of Islamic Sharia, becoming at the forefront of banks that meet the needs of its customers through advanced financial solutions. The bank played a prominent role in the areas of digital transformation, social responsibility, financial inclusion, and financing major real estate projects and small and medium enterprises, which effectively contributed to supporting the national economy and enhancing financial sustainability. Al Baraka Bank Egypt launched the mobile banking service for individuals and companies, as part of a plan extending until 2025. The bank is considered among the pioneers in this field, being among the first four banks in Egypt to launch the mobile banking application for companies, seeking for the bank to reach 50% of digitally active customers by 2027. It also updated the Internet banking service in terms of developing the services provided and adding a new user interface, with the aim of achieving complete development in digital banking services for individuals and companies. The bank is working on continuing its expansion strategy for the ATM network to include contactless transaction services, in addition to securing it with the latest global systems, as the bank currently has 163 ATM machines spread throughout the governorates of the Republic, and the bank plans to add 100 machines during the year 2025. The bank intends to expand the scope of its digital services to enhance this digital transformation by launching ChatBot and WhatsApp for Business services soon, ensuring a smooth and secure banking experience. To his clients. Al Baraka Bank – Egypt also adopted during the past two years a plan to restructure the branch network in terms of spread, by adding new branches in the uncovered and most vital governorates to reach the largest number of customers. The bank recently strengthened its presence by opening its newest branches in Mokattam, Beheira and Beni Suef, with plans To add 9 new branches until the end of 2025. The bank also redistributed some branches, such as the Smouha and Abbas Al-Akkad branches, with the aim of being present in better areas and attracting new customers. With regard to modernizing the branch network, it The bank is developing 10 branches during the year 2024, and aims to develop 9 branches during 2025. Finally, the bank updated its branch expansion plan to include two digital branches. In 2024, Al Baraka Bank Egypt introduced a group of new banking products compatible with Islamic Sharia principles, including a group of various credit cards such as the “Titanium” credit card and the “Platinum” credit card, as these cards provide flexible benefits and high purchasing power to customers, With designs that suit their needs and lifestyle. Al Baraka Bank launched, for the first time, the installment service, which allows Al Baraka Bank credit card holders to pay in installments all purchase transactions through points of sale or online from any merchant inside or outside Egypt without any returns, except for administrative expenses, in accordance with Islamic law. Al Baraka Bank also launched a variety of direct debit cards, which are equipped with the latest acceptance technologies for daily purchases, online shopping, and cash withdrawals, such as the Titanium direct debit card, with the launch of the World Dollar direct debit card, which is considered the first foreign currency card to join Al Baraka Bank cards. Regarding savings products, the bank launched the “Elite” triple savings certificate, which allows customers to obtain a return of up to 22% annually, disbursed monthly, providing an attractive option for those looking for a safe investment with a high return. In addition, Al Baraka Bank Egypt has introduced a monthly savings account with a return of up to 25% annually, in addition to the current account that offers a competitive return of up to 22% annually, which contributes to providing various banking solutions that meet the different aspirations of customers and achieve the highest benefit from their savings. As the first bank to launch a dollar bank insurance policy compatible with Islamic Sharia, the I-Relax USD product was added to the package of bancassurance products in accordance with Islamic Sharia available only at Al Baraka Bank in cooperation with GIG Hayat Takaful. Financial inclusion is one of the basic pillars on which Al Baraka Bank’s work is based, in its belief that it is not just a means of achieving economic growth, but also a tool for achieving social justice and promoting sustainable development. As part of its interest in financial inclusion, the bank is keen to participate in community initiatives and organize events aimed at enhancing financial awareness and empowering target groups, with a focus on women, youth, and people of determination. The bank organized a series of educational seminars on the occasion of International Women’s Day in several governorates (Cairo, Giza, and Beni Suef). , and Minya) in order to enhance awareness of the role of women in the economy and empower them financially. On International Youth Day, the bank participated in the fifteenth edition of the Educate Forum and Exhibition at the Library of Alexandria, during which the bank reviewed its programs directed at supporting youth, whether through financial services or financial education programs. Al Baraka Bank also celebrated honoring the blind students who excelled in high school, in appreciation of their will and achievements, coinciding with the International Day of People of Determination. As for enhancing sustainability, Al Baraka Bank Egypt issued its first report for the year 2023, with support from the Egypt Business Project funded by the United States Agency for International Development, which reviews the bank’s efforts to achieve a balance between financial growth and positive impact on society and the environment through several axes, including sustainable financing. Responsible environmental practices, with special attention to good governance. As part of these efforts, the bank began implementing the Environmental and Social Risk Management System (ESMS), which is in line with International Finance Corporation (IFC) standards, and aims to enhance the management of sustainability-related risks by including them in its internal operations and policies, which contributes to achieving sustainable and balanced performance. . The bank also launched a sustainable financing policy, which represents the main framework for the bank’s sustainable practices, and was developed in accordance with the principles of Islamic banking. The policy aims to create added value that focuses on achieving economic and social development while preserving the environment, which reflects the bank’s commitment to a comprehensive and innovative vision of sustainability. The Bank continues its efforts to empower marginalized societal groups and support small and medium enterprises that contribute to achieving sustainable development, especially in sectors such as renewable energy, education, and health care. The Bank sponsored the Arab Sustainability Week in its fifth edition, which is considered one of the most important regional events concerned with sustainable development issues. Through its participation, the Bank contributes to enhancing awareness of the importance of adopting responsible practices that achieve a balance between economic growth and environmental preservation, thus supporting aspirations towards a more sustainable and resilient future. During 2024, through the syndicated financing, structured financing, and investment sectors, the bank was keen to make its participation more diversified between the initial issuances of bonds, sukuks, and joint financings in various vital sectors of the Egyptian national economy that are compatible with the provisions of Islamic Sharia. During the year 2024, the bank participated in 12 joint financing deals as a salary. Initial principal, principal salary, and underwriter, with a total value of contributions exceeding 6 billion Egyptian pounds, with a high participation rate out of the total value of joint financing in which the bank participated. Through the investment sector, the bank participated in 5 securitization deals for companies operating in the Egyptian market, with a participation value of 1.2 billion Egyptian pounds, which reflects the diversity and development of financing and investment solutions provided to a base of the bank’s clients. Al Baraka Bank Egypt obtained a license to promote and cover IPOs from the General Authority. Financial supervision during the year 2024, which helped the bank play the role of underwriter in many of the securitization issues in which it participated during the year. The most prominent of these joint financings are: financing for the Giza Systems Group under the guarantee of the Saudi STC, financing for the Egyptian General Petroleum Corporation, financing for part of the investment costs of the Zed New Cairo project of Ora Developers Company, financing for the Badia and Palmet projects of the Palm Hills Company, and financing for projects Taj City and Saray for the Misr City Housing and Development Company, the financing for the Southern Red Sea Arsenal Company, and the financing for the Redcon Development Company, as well as the financing for For the Egyptian Saudi Development Company, as for the most prominent investment deals in which the bank participated during the year, securitizations issued in favor of Bedaya Real Estate Finance Company, securitizations issued in favor of Drive Finance Company, securitizations issued in favor of Cairo Investment and Real Estate Development Company (CIRA). In line with the plan and vision of the Central Bank to achieve sustainable development goals within the Egyptian State Vision 2030, Al Baraka Bank has adopted the trend to finance sustainable projects by establishing a specialized department for this type of project and preparing executive policies and procedures for sustainable financing with the preparation of periodic reports in this regard, in order to enhance Investment opportunities, especially to attract a segment of investors interested in sectors that promote the principles of sustainable development and encourage the injection of more foreign currencies into the banking market. Attention has been paid to all aspects of sustainable financing, and many companies have been granted financing and credit facilities in line with the direction of our bank, and the most important of these companies are (Rayah Systems Company / Empower for New and Renewable Energy / Prime Energy Services / Al Salam for Educational Technology / Electricity Holding Company). It is worth noting that the bank’s investments in companies amounted to approximately 500 million Egyptian pounds by the end of this year. To enhance its commercial ties at the international level, Al Baraka Bank – Egypt launched a series of seminars that seek to deepen cooperation between its branches around the world and provide innovative banking solutions. This initiative witnessed the bank’s branches in Turkey, Algeria, and Jordan recently joining the commercial transactions platform, to which branches in Pakistan and South Africa had previously joined, in a move that reflects its ambition to expand the scope of its international banking services. As part of its ongoing commitment to supporting Egyptian society through basic pillars that include education, women’s empowerment, and health, Al Baraka Bank Egypt continues its efforts in the field of social responsibility in partnership with a number of leading institutions in Egypt. In the health sector, Al Baraka Bank – Egypt announced its cooperation with the Magdy Yacoub Foundation for Heart Diseases and Research, and also cooperated with the Egyptian Ministry of Health as part of the state’s initiative to end waiting lists to ensure that patients receive the necessary medical service for free and as quickly as possible. This is in addition to the partnerships aimed at supporting development institutions in their active role in society, as Al Baraka Bank Egypt, in cooperation with the Mervat Sultan Foundation for Charitable Works, launched a comprehensive medical convoy in Beheira Governorate, aiming to provide free medical services to about a thousand people to detect eye diseases, The bank, in cooperation with Baheya Hospital, lit up its headquarters in pink during Breast Cancer Awareness Month, in support of the hospital’s vital role in raising awareness, early detection, and providing treatment for women in Egypt. The bank is proud of its partnership with other institutions such as Ahl Masr Foundation, to support its ongoing efforts in providing health care and development services to the community by donating the cost of purchasing a mobile ventilator to save critical cases. In the field of education, Al Baraka Bank Egypt, in cooperation with the “Who Revives It” Foundation, contributed to covering the operating expenses of a school in Sohag Governorate, which contributed to supporting 200 children in the village of Awlad Yahya over the course of an entire year. As for women’s empowerment, the bank cooperated with the “Together for a Better Life” Foundation to establish a women’s workshop in Beni Suef Governorate to provide job opportunities and a sustainable source of income for a number of women in the governorate.
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