Suez Canal Bank Signs Cooperation Protocol with e-Aswaaq Misr to Expand SME Financing and Advance Egypt’s Digital Economy
Suez Canal Bank has signed a cooperation protocol with e-Aswaaq Misr, a subsidiary of e-Finance for Financial and Digital Investments, to expand financing opportunities for small and medium-sized enterprises (SMEs) and entrepreneurs, and to strengthen Egypt’s digital economy through integrated, technology-driven financial solutions.
The partnership supports Suez Canal Bank’s strategy to reach new customer segments across vital economic sectors, especially in remote and underserved areas. By integrating the Bank’s financial capabilities with e-Aswaaq Misr’s digital platforms and on-ground network, the cooperation is set to accelerate credit assessment processes, streamline operations, and reduce overall service costs.
The protocol was signed during Cairo ICT 2025 by Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, and Eng. Ibrahim Sarhan, Chairman of e-Finance. The signing was attended by Khaled Mekky, Head of Embedded Finance at e-Aswaaq Misr; Shehab Zidan, Deputy CEO and Managing Director of Suez Canal Bank; Omar Nasser, Head of SME Banking at Suez Canal Bank; along with senior executives from both organisations.
This cooperation aligns with Suez Canal Bank’s commitment to supporting SMEs and entrepreneurship as engines of economic growth and job creation. It also enhances the Bank’s role in promoting financial inclusion in line with the Central Bank of Egypt’s directives and Egypt’s Vision 2030.
Commenting on the partnership, Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, stated:
“This partnership marks an important milestone for the Bank, enabling us to deliver tailored financing programmes that help entrepreneurs and SME owners expand their businesses and enhance their competitiveness locally and regionally. It also reinforces our contribution to national efforts aimed at driving sustainable economic development.”
He added that partnering with e-Aswaaq Misr will offer SME clients faster, more flexible access to funding through a digital-first process that ensures accurate and efficient assessment of their business needs.
For his part, Eng. Ibrahim Sarhan, Chairman of e-Finance for Financial and Digital Investments, said the cooperation represents a significant step toward connecting traders and business owners with a fully integrated digital banking ecosystem powered by advanced technology. This, he noted, will accelerate Egypt’s digital transformation and boost productivity across multiple economic sectors.
Sarhan emphasised that e-Aswaaq Misr is working to transform traditional supply chains into a comprehensive digital ecosystem that brings together sales, purchasing, financing, and logistics services on one platform. This transformation expands access to funding and equips productive sectors to play a stronger role in sustainable economic growth.