The Economy website monitors Details of the Zaat program for financing women from Banque Misr.
ZAAT is the first integrated financing program, developed especially to support Egyptian women. Launched by Banque Misr, it is an attestation of the Bank’s firm belief in the impactful role of women in developing society. It seeks to provide the necessary support for tackling the challenges faced by women and incorporates a variety of financing benefits and financial and non-financial services for business women and female entrepreneurs, with the aim of assisting each and every woman in her vision to reach for her dreams.
Financing Benefits:
Financing programs tailored to fulfil various needs and activities
Financing up to EGP 6 million
Payment periods up to 60 months
Competitive rates with the simplest conditions and procedures
Financial Services:
Extended loan payment durations during maternity leave (for women) for up to three months
Exemption from administrative charges on savings accounts
Exemption from issuance charges of retail/corporate debit cards
Free personal insurance policy against accidents throughout loan tenure
Issuance of Youths card tied to the customer’s account
Salary transfer for employees
Microfinance Products
| First Product | Second Product | POS Merchants – QR Code | |
| Product Name | First product – d/ micro loans first product/Mashrou’ak 1 – d/Mashrou’ak1/Bedaity2 d/Bedaity 2 Mashrou’ak – d/Bedaity 2 Mashrou’ak/Bedaity 3 – d/Bedaity 3/Bedaity 3 Mashrou’ak – d/Bedaity 3 Mashrou’ak/initiative – d/initiative/initiative Mashrou’ak – d/initiative Mashrou’ak | Second product – d/micro loans Second product / Mashrou’ak 2-d/Mashrou’ak 2/Tamkeen / Tamkeen –d | POS – QR Codes merchants first category D / POS – QR Codes merchants second category D / POS – QR Codes merchants first category D / POS – QR Codes merchants second category |
| Product Charges | (1%) of the loan value issued, by deduction from the value of the loan that is automatically granted to the customer | ||
| Loan Value | Value of loan granted: from EGP 5,000 to less than EGP 50,000 | Value of loan granted: from EGP 50,000 to less than EGP 250,000 | Loan value is determined as follows: 50% of the value of annual cash flows from POS + QR Code for our Bank customers at a maximum of EGP 100,000; 35% of the value of annual cash flows from POS + QR Code for other bank customers at a maximum of EGP 100,000 |
| Product Benefits | The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal | The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal | The loan may be renewed immediately upon repaying the current loan (full payment of debt); or on any date subsequent to the loan due date, with due regard to loan brackets, provided that the project is re-assessed by the committee upon document renewal |
| Accelerated payment is permitted, provided that the Bank receives a 3% commission on the remaining balance of the original loan. The loan is not renewed unless after a period of 6 months from the tenor of the agreed loan. | Accelerated payment is permitted, provided that the Bank receives a 3% commission on the remaining balance of the original loan. The loan is not renewed unless after a period of 6 months from the tenor of the agreed loan. | ||
| Disbursement mechanism: cash | For amounts up to EGP 100,000 disbursement is made in cash; for amounts exceeding EGP 100,000: cash disbursement shall not exceed 50%, provided that the remaining sum is disbursed via banking cheques provided to suppliers associated with the activity and individuals subject to desk inquiries, via the form designated for that purpose | Disbursement mechanism: cash | |
| Additional Product Information | Installments due date: On the same day as loan disbursement effective the subsequent month, without a grace period. | ||
| Delay returns: 4% added to the applicable rate of return, to be calculated on the due monthly installments, while granting the customer a 3-day grace period from the date on which the installment is due, without charging a penalty. | |||
| Required Documents | One year of practicing the activity | ||
| Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. | Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. | Copy of the lease contract, ownership deed or fixed-term lease contract documented at the land registry. | |
| Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. | Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. | Recent public utilities receipt (water, gas, telephone bill) in the name of the borrower or owner that has been issued no more than 3 months ago. | |
| Copy of the valid national ID of the borrower and guarantor | Copy of the valid national ID of the borrower and guarantor | Copy of the valid national ID of the borrower and guarantor | |
| Copy of recent tax card verifying that there are no outstanding payable taxes | Copy of recent tax card verifying that there are no outstanding payable taxes | ||
| Recent transcript from the commercial registry issued no more than 3 months ago | Recent transcript from the commercial registry issued no more than 3 months ago | ||
| Copy of the latest insurance payment receipt | Copy of the latest insurance payment receipt | ||
| Recent certificate of trade judgements (objecting by non-payment and bankruptcy) for the last 5 years | Recent certificate of trade judgements (objecting by non-payment and bankruptcy) for the last 5 years | ||
| Approved income and balance statement for amounts exceeding EGP 100,000 | Approved income and balance statement for amounts exceeding EGP 100,000 | ||
| Authorization by customer for deducting 1% issuance charges from the loan amount | Authorization by customer for deducting 1% issuance charges from the loan amount | ||
| Authorization by customer for deducting charges of issuing risk insurance document from the loan amount | Authorization by customer for deducting charges of issuing risk insurance document from the loan amount | ||
| Authorization by customer for deducting charges of issuing risk payment document from the loan amount, for loans exceeding EGP 100,000 | Authorization by customer for deducting charges of issuing risk payment document from the loan amount, for loans exceeding EGP 100,000 | ||
| Certificate approved by the bank with which the merchant transacts, indicating total POS or QR Code transactions in one year; as well as total commissions collected from the merchant in the same year; provided that bank signatures are validated by our Bank. | |||
| Submitting the account statement associated with the POS, whether from our Bank within 6 months or approved by the bank transacted with during the past year, indicating the volume of cash flows of online sales. | |||
Second:- Financing societies, private institutions, and MSME financing companies
| Product | |
| Product Name | Financing societies, private institutions, and MSME financing companies |
| Product Charges | Negotiable |
| Product Benefits | 1. Assessing and identifying the financing needs of customers targeted by micro financing 2. Offering finance packages (short/long-term facilities, etc.) that enable these companies to fulfil targeted growth plans 3. Participating with various Bank sectors in offering integrated services to micro financing institutions, enabling them to operate in line with best-in-class service standards and serve micro financing customers |
| Additional Product Information | Provision financial services to societies, private institutions and financing companies operating under Law No. 141 of 2014 (and amendments thereof) |
| Required Documents | Submit all official documents required for the activity and as necessary for the credit evaluation |
| Communication Officers Contact No. | for any inquires please contact 19888 |
