The Agricultural Bank of Egypt (ABE) and Misr Life Insurance Company signed earlier this week an agreement whereby the bank allows the insurer to market and deliver its insurance services and programs through 100 branches of the bank. Across the country.
This agreement aims to contribute to the implementation of the objectives of the Decent Life Initiative, by providing all its banking and financial services and ensuring that they reach a large sector of the rural population.
“This step aims to support the bank’s efforts to diversify its banking services and products,” said Alaa Farouk, president of ABE. The official said the bank aims to meet the needs of its customers from all segments of society in a way that contributes to the achievement of financial inclusion.
For his part, the chairman and managing director of Misr Life Insurance, Ahmed Abdel, confirmed that the company is striving to extend its insurance products and services to its customers. This includes bancassurance, which has become a major player in the growth of the insurance business.
Founded in 1931, ABE quickly grew to become the largest financial institution in the Arab world serving the specific interests of the farming community. The facility operates through a network that includes an administrative headquarters in Cairo and around 1,200 district branches and village banks.
Meanwhile, Misr Life Insurance Company is the largest local life insurance company in Egypt. The company offers individual and group life, retirement and health insurance programs.
