iScore, Chambers Federation Partner to Enhance Credit Transparency
The Federation of Egyptian Chambers of Commerce has signed a cooperation protocol with the Egyptian Credit Bureau, iScore, in support of the state’s efforts to enhance financial inclusion, accelerate digital transformation, and strengthen credit assessment across the financial and commercial sectors.
The agreement was signed on the sidelines of Cairo ICT 2025, in the presence of Ahmed El Wakeel, Chairman of the Federation of Egyptian Chambers of Commerce, Mohamed Karim, CEO and Managing Director of iScore, along with senior officials from both organizations.
The protocol aligns with Egypt’s national direction to improve the business climate, streamline commercial processes, and promote the use of data-driven tools to support more accurate and efficient credit and commercial decisions.
Under the agreement, the Federation will provide iScore with access to its database of protesto rulings and bankruptcy announcements, enabling iScore to make this information available through its accredited platforms to financial and commercial institutions. This exchange will enhance the integration of data related to trader behavior and commercial dealings, ultimately improving the reliability, accuracy, and efficiency of the credit evaluation process.
Strengthening Financial Inclusion and Supporting SMEs
Commenting on the agreement, Ahmed El Wakeel, Chairman of the Federation, said the protocol represents an important step within the Federation’s broader initiatives supporting financial inclusion and digital transformation in cooperation with the Central Bank of Egypt, the Ministry of Finance, and the Ministry of Communications and Information Technology.
He noted that the initiative will facilitate access to credit for citizens and for more than 5 million small merchants, contributing to increased operational capacity, stimulating economic activity across sectors, and supporting the e-commerce market, which has exceeded EGP 500 billion in value.
Enhancing Transparency and Reducing Credit Risk
For his part, Mohamed Karim, CEO and Managing Director of iScore, emphasized that the collaboration marks a strategic step toward enhancing transparency in the Egyptian market, reducing credit risk, and ensuring efficient data access for financial and commercial entities. He stressed that the agreement will expedite procedures and promote a more stable and growth-oriented business environment for the private sector.
Karim added that the protocol is a key initiative aimed at maximizing the value of available commercial data, advancing financial inclusion, and simplifying verification and risk assessment processes for companies and merchants.
He reaffirmed iScore’s commitment to strengthening the information infrastructure of Egypt’s financial and commercial sectors and expanding cooperation with state institutions to build trust, improve investment conditions, and support the country’s economic growth.