The National Bank of Egypt signed a new cooperation protocol with Misr Life Insurance Company, in the presence of Mohamed El-Etreby, CEO of the National Bank of Egypt, Dr. Ahmed Abdel Aziz, CEO of Misr Life Insurance Company, Soha El-Turki and Yehia Abou El-Fotouh, Deputy CEOs of the National Bank of Egypt, Mostafa El-Qamash, Deputy CEO of Misr Life Insurance Company, Karim Soos, CEO of Retail Banking and Branches at the National Bank of Egypt, Mohamed Mahmoud, Head of the Bancassurance Sector, and specialized work teams from both sides.

The protocol aims to manage the company's proceeds from insurance policies and disburse compensation to Misr Life Insurance Company clients through the branches of the National Bank of Egypt across the country.

Mohamed El-Atreby stated that this protocol is an extension of the fruitful partnership between the National Bank of Egypt and Misr Life Insurance Company, which began in February 2020, to extend this partnership represented in a new cooperation that serves both parties, enhancing the role of the National Bank of Egypt in the field of payments to facilitate commercial transactions and provide safe and fast means and create effective payment methods for use in providing multiple services for transferring money and managing accounts, which encourages all categories of customers, individuals and companies, to use alternative channels to conduct their transactions with ease and convenience, which contributes greatly to achieving the goals of financial inclusion.

Dr. Ahmed Abdel Aziz expressed his pride in the partnership between Misr Life Insurance Company and the National Bank of Egypt, looking forward to continuing this fruitful partnership to achieve more joint successes, adding that this new protocol comes to enhance the success and fruitful cooperation that has continued for more than four years and resulted in distinguished results by achieving premiums exceeding 9 billion pounds, which is a great achievement that reflects the strength of cooperation between the National Bank and Misr Life Insurance Company, stressing the company's commitment to providing distinguished services that meet the needs of customers.

Soha Al-Turki pointed out that this cooperation will allow the collection of the company's dues from customer accounts at the National Bank of Egypt or other banks that are members of the automated clearing house for payments, to be added to the company's account at the National Bank of Egypt, in addition to the payment and compensation disbursement service, which will provide a new mechanism for disbursement, which contributes significantly to attracting new segments of customers and providing a distinguished service.

For his part, Mustafa Al-Qamash explained that this protocol reflects the company's continued provision of the best services to customers, and its continued work on developing and improving services in an innovative way in cooperation with the National Bank of Egypt by automating compensation disbursement methods, which contributes to facilitating compensation operations to ensure customer comfort.

Karim Sous explained that this protocol comes as a continuation of the fruitful successes with Misr Life Insurance Company by launching the "Maash Bokra" policy in Egyptian pounds, which is the first policy of its kind in the Egyptian market due to its advantages, in addition to launching traditional products with the aim of providing a diverse and distinguished range of products to suit all customer segments and meet all their needs, noting that the bank insurance portfolio amounted to approximately 9.4 billion pounds.

Sous added that this protocol will provide Misr Life Insurance Company with the necessary financial solutions to disburse payments and compensations to customers through all branches of the National Bank with the national number as an alternative to the current situation through checks, in addition to collecting periodic installments from the company's customers' accounts, whether from within the National Bank or all banks that are members of the automated clearing house.

Mohamed Mahmoud added that through the partnership with the National Bank of Egypt, the service was provided through 250 branches of the National Bank of Egypt, looking forward to increasing this number to reach 300 branches by the end of the year, which will allow us to provide our distinguished services throughout the republic. As an extension of the partnership, a diverse range of products was provided that serve all customers of the National Bank, and our latest products (Ibn Sina Medical Insurance Policy) were also launched, dedicated to individuals and families.

On the sidelines of signing the protocol, employees of the National Bank of Egypt and Misr Life Insurance Company, who won the Bancassurance Competition, which was launched last May and will extend until December 2024, were honored for the results achieved for the months of May and June, in appreciation of the efforts of the bank and company employees and to motivate them to continue raising the efficiency of the level of performance at the level of the bank’s branches, which reflects a great interest in the human element, believing in the importance of human wealth in any institution.