The Egyptian subsidiary of Attijariwafa bank has signed a memorandum of cooperation with Global Lease to finance and support SMEs in the country.
According to a statement from Attijariwafa Bank Egypt, this cooperation protocol is part of the bank’s strategy to support financial inclusion and the so-called sustainable vision of Attijariwafa bank and Global Lease which aims to achieve expansion into the Egyptian market and provide services for a wider segment of customers. It also aims to support SMEs through the financing of capital increases and the provision of leasing services.
In addition, the press release states that the bank will also organize, finance and collect payments agreed under this agreement, while Global Lease will play the role of lender and collateral in leasing operations.
Established in 25 countries, Attijariwafa bank has been operating in Egypt since May 2017 after the acquisition of the entire capital of Barclays Bank Egypt.