In collaboration with CBE, Financial Services, Credit, and Marketing Opportunities were Provided to Participants of the Second Round of “Diarna” Exhibitions

As part of the Central Bank of Egypt’s efforts towards promoting financial inclusion and supporting economic empowerment for all society segments, and in alignment to the strategic partnerships with ministries and relevant stakeholders, the Ministry of Social Solidarity collaborated with a number of banks to organize “Diarna” exhibitions, which provide an opportunity to skilled handicrafts exhibitors to display and promote their products and artwork at the banks’ headquarters and main premises.

The exhibitions offered them opportunities to access a variety of products and services provided by the banks, such as opening Economic Activity Accounts, providing Points of Sale (POS) to allow receiving payments, as well as offering credit to cover their financing requirements.

Around 111 exhibitors participated in the second round of “Diarna” exhibitions during 2023, as part of the “Financial Inclusion Events” held under the auspices of the Central Bank of Egypt (CBE) on annual basis.

The Financial Inclusion events aim to allow the banks to expand their services and promote their products outside their network of branches, as well as enable them to reach for customers in Egyptian governorates and remote areas, where the presence of financial services providers is limited.

Mr. Sherif Lokman, Sub-Governor of the Central Bank of Egypt (CBE) for Financial Inclusion, emphasized that "The collaboration with the Ministry of Social Solidarity comes in alignment to CBE’s keenness to strengthen cooperation with all governmental entities to foster the Egyptian state's venture of achieving financial inclusion and promoting economic empowerment for Micro, Small and Medium Enterprises (MSMEs). This endeavor aims to maximize job opportunities and achieve sustainable development goals, which are fundamental to Egypt's Vision 2030."

In addition, Dr. Mervat Sabreen, Assistant to the Minister of Social Solidarity, commented "The Diarna Exhibitions, hosted by various banks in 2023 - in its second round – signify the coordinated efforts between the Ministry of Social Solidarity and the CBE. It also provided a platform to support the handcrafts sector, and the workers in this field, which comes within the framework of the Ministry's endeavors to achieve economic development and support financial inclusion, whereas nearly 11.5 million “Meeza” cards were issued to beneficiaries of the cash transfer Takuful and Karama program, pensioners, differently-abled people, and community’s leaders. Moreover, the Ministry adopted the principles of financial inclusion for access to finance seekers from productive families and micro enterprises."

Furthermore, the 'Diarna' Exhibitions, held at the banks’ premises, are part of CBE’s initiatives to promote financial inclusion. It is worth mentioning that the CBE has issued several regulations that are aimed at promoting financial inclusion and facilitating access to banking services for all customers’ segments. Notably, CBE issued a regulation that involved allowing business owners and freelancers to open the Economic Activity Accounts using only their National IDs, overcoming the barriers that previously hindered a large segment of entrepreneurs and craftspeople from accessing formal financial services.