ABE Chairperson, New Valley Governor open recently developed bank branch in Kharga
ABE’s top priority is to support financial inclusion, in implementation of CBE’s directives, says Alaa Farouk
Hossam Mounir May 22, 2022 Comments Off

ohamed Al-Zamlout, Governor of the New Valley, and Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE), have inaugurated the bank’s recently developed branch in the town of Kharga.
A delegation from the bank paid a visit to the New Valley governorate. This visit aimed to reinforce the bank’s efforts to achieve agricultural development and support agricultural investment in the governorate.
The bank’s branch in Kharga has seen recent development works, within the bank’s strategy to develop its network of branches nationwide, to provide all banking and financial services with the highest standards of quality.
The opening ceremony was attended by Hanan Magdy, Deputy Governor of New Valley; Samy Abdel Sadek, Vice Chairperson of the ABE; Saleh El-Shamy, Head of the Credit Group at the ABE; members of the House of Representatives; investors; and businessmen.
On his part, the Governor of New Valley praised the development witnessed by the ABE, in terms of infrastructure and management. This new way of thinking aims to restore the bank’s developmental role as a banking entity that supports state efforts to achieve inclusive development, he added.
Al-Zamlout praised the cooperation between the Bank and the governorate to support development efforts and provide the necessary funding to maximize the capabilities of agricultural investment projects in the governorate. He also valued the Bank’s role in financing small and micro projects that serve a wide segment of the governorate’s population by providing job opportunities and improving the standard of living.
On his part, Alaa Farouk said that the recently opened branches come within the comprehensive development plan implemented by the bank to redevelop over 670 branches in all governorates, with the aim of providing all banking and financing services.
He pointed out that New Valley is one of the leading development governorates. It is witnessing a development renaissance in all fields.
Farouk explained that the development of branches is not only limited to new construction and standardization of the external appearance, interior designs and furniture, but also includes the development of the technological infrastructure of the bank, to accommodate the successive developments in the methods of providing banking services.
Farouk stressed that the development of the branches is also accompanied by developing the skills and capabilities of the employees who provide banking services to customers in those branches. He added that the top priority for the ABE is to support financial inclusion, in implementation of the directives of the Central Bank of Egypt (CBE).
He pointed out that achieving financial inclusion makes the development of branches and the establishment of new branches an absolute necessity, in an effort to attract more customers from different segments of society to deal with the banking system, while continuing the role entrusted to it as a basic supporter of agriculture.
Topics: ABE ChairpersonAgricultural Bank of Egypt New Valley Governor
Hossam Mounir
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