• Home
• Banks

Banking and financial institutions in the Egyptian market are expanding the launch of tailored financing programs for electric vehicles (EVs), aligning with Egypt’s Vision 2030 to support the green economy and reduce carbon emissions. This move aims to offer flexible facilities, streamline procedures, and coordinate efforts with automotive agencies and charging companies to encourage citizens to adopt sustainable vehicles.

KFH Egypt: 7 Financing Programs and Free Insurance

Marwa Kheirat Shatla, Vice President of Sustainable Finance and Sustainability at Kuwait Finance House – Egypt (KFH), highlighted the global and local growth of the EV market, emphasizing that the transition to electric vehicles has become an economic and technological necessity. She announced that the bank provides 7 distinct financing programs with values up to EGP 15 million and repayment terms of up to 10 years, alongside a free insurance policy for the first year and the addition of 6 EVs to the bank’s fleet in collaboration with Raya Auto.

MIDBANK: Up to 100% Financing and Admin Fee Exemption

Mohamed Abdel Hamid, Head of Sustainability and Sustainable Finance at MIDBANK, announced the launch of a vehicle financing program extending up to 12 years with values up to EGP 15 million, covering up to 100% of the vehicle value with zero down payment. The program also features an exemption from administrative fees and free insurance for the first year to ease financial burdens on consumers.

EG Bank: Long-Term Installment Plans and Rapid Approvals

Ahmed Mourad, Head of Auto Loans at Egyptian Gulf Bank (EG Bank), stated that the bank aims to shift EVs from a niche segment into a primary market in Egypt by offering preferential interest rates and initial approvals within 30 minutes. He also pointed to the bank's environmental initiatives running since 2016 under the "Saving Green" campaign to rationalize resource consumption.

ADIB Egypt: Cashback and Showroom Facilities

Haitham Abdel Moneim, Head of Asset Products at Abu Dhabi Islamic Bank – Egypt (ADIB), explained that the bank enables customers to receive their vehicles directly inside showrooms through simplified financing procedures. During the "Green Friday" event, the bank introduced an exclusive offer featuring up to 5% cashback and administrative fee exemptions.

valU and ABE: Digital Solutions and Network Expansion

Kareem Gewaily, Senior Events and Promotional Activities Lead at valU, revealed the features of the "valU Shift" program, offering a fixed annual interest rate of 10.5% with zero down payment, no purchase fees, and no sale ban. On her part, Fayza Ahmed, Chief Retail Officer at the Agricultural Bank of Egypt (ABE), reaffirmed the bank’s commitment to digital and green transformation by upgrading its extensive geographic branch network to serve diverse customer segments.