In a significant move to strengthen its partnership base and support vital economic sectors, Suez Canal Bank has signed a credit facilities contract worth EGP 1.2 billion with Madkour Projects Company. This collaboration aims to provide innovative and flexible financing solutions to various institutions, enabling them to expand their operations and achieve strategic objectives.
Signing Ceremony
The official signing ceremony was attended by prominent leaders from both organizations, including Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, Shehab Zidane, Deputy CEO and Managing Director of Suez Canal Bank, and Mr. Al-Haitham Al-Qubrasli, Head of Corporate Finance and Investment Services at Suez Canal Bank. Representing Madkour Group of Companies were Dr. Mustafa Madkour, Chairman and CEO, and Haitham Qasem, Head of the Credit and Finance Sector.
Commitment to Integrated Financing Solutions
Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, emphasized the bank’s commitment to providing comprehensive financing solutions tailored to the needs of diverse institutions. He highlighted that this partnership with Madkour Projects Company is part of the bank’s strategy to foster collaboration with key industry players, creating opportunities for growth and strengthening Egypt’s economy. “This agreement reflects our continuous efforts to support national projects and opens new horizons for future cooperation with strategic partners,” said El Maghraby.
Supporting Project Expansion
Dr. Mustafa Madkour, Chairman and CEO of Madkour Group, expressed his optimism about the partnership, stating that the credit facility will significantly enhance the company’s capacity to expand its existing projects and undertake new ventures, both domestically and internationally. He commended Suez Canal Bank for its dedication to supporting national companies, underscoring the role this will play in driving forward Egypt’s economic development.
About Suez Canal Bank
Established in 1978 as an Egyptian joint-stock company, Suez Canal Bank offers a wide range of banking solutions, financial products, and services tailored to both institutional and individual clients. The bank operates through 52 branches across Egypt and boasts an extensive ATM network. Notably, the bank also provides Sharia-compliant banking services to cater to a broader client base.
This partnership marks another milestone in Suez Canal Bank’s efforts to empower national businesses and contribute to Egypt’s sustainable economic growth.