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SME Banking Egypt 2016
May 16, 2016 - May 17, 2016
The SME Banking Egypt 2016 is a platform for banking and financial professionals in the region to explore the opportunities of the future of SME Banking. The Central Bank of Egypt has announced itself as Strategic Partner of the event along with the Egyptian Institute of Banking. The Central Bank of Egypt has pledged a whopping investment of $25 billion in the SME sector, along with certain mandates for the financial institutions to help SMEs grow. This event will help banks understand what they can offer SMEs the services they need to succeed.
Madhura Gaikwad | Marketing – UMS Conferences | E: email@example.com
The SME Banking & Finance Egypt 2016, supported by the Egyptian Banking Institute, a part of the Central Bank of Egypt (CBE), and partnered by Bloomberg Businessweek Middle East, is the platform for top banking and financial professionals from the region to congregate and discuss strategies to support the Egyptian economy and promote SMEs.
This path-breaking event will outline CBE’s mandate to inject $25 billion to support small and medium businesses.
SMEs in Egypt account for more than 90% of the private sector and employ almost 65% of workforce. Long considered as the largest SME hub in the Middle East as per operating density and pure numbers, Egypt’s current economic challenge is forcing it to rebuild and reinforce this vital base.
Considering the dire need to promote SMEs market, the Central Bank of Egypt is focused on transforming the SME finance market in Egypt. It plans to provide a $25 billion stimulus package to fund over 350,000 SMEs over the next four years.
It has also launched a program that mandates banks to increase the percentage of loans offered to SMEs. Banks operating in Egypt are racing to implement programs offering better interest rates, longer payback periods and higher funding.