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The Egyptian Federation for Financing Medium, Small, and Micro Enterprises (MSMEs) has signed a joint cooperation protocol with "MHE - Next Generation I.T" to provide a suite of specialized Information Technology (IT) and cybersecurity solutions for the Federation's member institutions.

Protocol Objectives and Signing Ceremony

The agreement aims to support member financing entities in meeting regulatory controls and requirements, while enhancing their readiness to keep pace with rapid digital transformation. The protocol was signed by Dr. Hala Abou El-Saad, Chairperson of the Federation, and Mr. Tarek Ahmed Mostafa El-Haddad, Chairman of "MHE".

Compliance with Financial Regulatory Authority Standards

In this context, Dr. Hala Abou El-Saad explained that this step aligns with the Federation's vision to support its members in complying with the regulatory requirements issued by the Financial Regulatory Authority (FRA), particularly regarding cybersecurity standards and data protection. She added that the Federation is keen to provide technical solutions that enable institutions to modernize their infrastructure and boost the efficiency of their protection systems to suit the size and operational nature of each entity.

Flexible Subscription Models to Reduce Operational Burdens

For his part, Mr. Tarek Ahmed Mostafa El-Haddad noted that the cooperation focuses on transferring specialized technological expertise to the enterprise financing sector, offering IT and cybersecurity services through flexible subscription models. This mechanism allows institutions to benefit from the latest technologies without incurring the high costs of building and operating a fully integrated IT infrastructure independently, thereby ensuring business continuity and the ability to counter cyber threats.

Supporting the Stability of Non-Banking Financial Activities

This partnership holds particular significance as cybersecurity is a fundamental pillar for the stability and integrity of non-banking financial activities, especially amid the rapid expansion of digital financial services. Under the leadership of its Board of Directors, the Federation continues to provide various forms of technical and institutional support to enhance the efficiency of sector institutions and solidify principles of governance and sustainability.