Main features of Agricultural Bank’s ‘Bab Rizq’ microfinance programme
The Egyptian Agricultural Bank offers a lot of banking services that help customers complete all daily financial transactions easily and conveniently.
Bab Rizq is one of the most important microfinance programs at ABE which targets women and small traders and craftsmen in Egyptian villages. It also targets low-income groups to empower them economically.
The program provides up to EGP 10,000 finance with a low annual reducing interest, without administrative expenses.
The key advantages of Bab Rizq programme:
- Low annual reducing interest rate
- Persons with disabilities enjoy annual reducing return of 11.25%
- Customers can be part of the programme with no administrative expenses.
- multiple payment systems.
- Easy procedures and speedy implementation
- Get a grace period of up to 60 days before the first installment.
- Four borrowers can share into one loan.
- Customers how enjoy the programme can get ABE’S Meeza card free of charge.
- Customer can pay installments over different periods (monthly - quarterly - semi-annually) according to the nature of financing and the purpose of the activity.
- Customers can have financing from 2,000 pounds up to 10,000 pounds
The beneficiaries of Bab Rizq programme:
- Rural and breadwinner woman.
- Street vendors working in the trade of agricultural products as well as agricultural tools and agricultural supplies.
- Workers in rural and craft industries.
- Bird breeders.
- Sheep and goat breeders.
- Craftsmen.
The area of financing in Bab Rizq programme:
- Breeding poultry and domestic birds
- Sheep and goat breeding
- Trade in agricultural and rural products
- Rural cottage industries and handicrafts
To learn more about the Bab Rizq program, you can visit the Agricultural Bank of Egypt website
