saib Bank Partners with Egyptian Clothing Bank to Launch “The Small Lab” Project Supporting Young Women
As part of its celebrations marking the 50th anniversary of its establishment, saib Bank has signed a cooperation protocol with Egyptian Clothing Bank to fund and implement the “Small Lab” project in Cairo. The initiative aims to support around 50 young women from underprivileged communities and enhance their social and economic empowerment.
The project targets young women who are graduates of technical education programs and those interested in learning sustainable handicraft practices, as well as individuals seeking opportunities to develop practical skills. It also includes orphaned girls who require personal and professional support to build their future careers.
The cooperation agreement was signed by Adel Naguib, Chief Executive Officer and Managing Director of saib Bank, and Manal Saleh, Chief Executive Officer of the Egyptian Clothing Bank. The signing ceremony was attended by Tarek Abdo, Deputy Managing Director of saib Bank, along with representatives from both organizations.
Following the signing, Adel Naguib stated that the bank’s participation in establishing the “Small Lab” for ready-made garments production will help increase income opportunities for participating women by equipping them with sustainable craft skills and the technical expertise needed to work in garment manufacturing and handicrafts, enabling them to integrate into the labor market.
He added that the project will also focus on raising participants’ awareness and technical capacity by providing training in entrepreneurship, financial and banking literacy, and accounting fundamentals, in addition to introducing key financial inclusion concepts that will help them manage their income effectively.
The program will further equip participants with the knowledge required to produce innovative, high-quality products aligned with modern market trends, while integrating environmentally friendly practices and recycling techniques into their projects.
For his part, Tarek Abdo emphasized that the partnership with the Egyptian Clothing Bank reflects saib Bank’s commitment to playing an active role in community development by participating in social initiatives that improve the living standards of underprivileged groups and support broader efforts to enhance social welfare.