Bank Misr to take part in presidential initiative to boost consumption

CAIRO - 17 August 2020: Banque Misr announced Monday that it will contribute to an initiative by President Abdel Fattah El Sisi meant to encourage local products and boost consumption.

The three-month initiative was launched late July with the aim to activate sales through discounts offered by men of industry and trade, the bank said in a statement.

Banks are encouraged to provide consumer loans at low interest rates with the aim to mobilize the market, the statement added.

Banque Misr is taking part in this initiative in order to give the economy a shot in the arm, it said.