Egypt Post, NSB Sign Protocol to Support Financial Inclusion, Digital Transformation
Egypt Post has signed a cooperation protocol with Nasser Social Bank (NSB), affiliated with the Ministry of Social Solidarity, to promote financial inclusion by expanding access to banking and financial services, especially for pensioners and beneficiaries of social protection programs.
This move is part of Egypt Post's broader strategy to cooperate with government institutions to expand access to government and financial services, particularly for citizens in underserved areas, through nationwide post offices.
The protocol enables pensioners and salary recipients to receive their payments through the 123 Shared Cash Network system at post offices, providing convenient access to their financial entitlements without the need to visit NSB branches.
Under the cooperation framework, post offices will receive the files of NSB clients who benefit from pension and alimony, and send the required documents to the bank for review and approval. The agreement also enables NSB clients to settle outstanding amounts owed to the bank through post offices, ensuring greater flexibility and facilitating timely repayment.
In addition, NSB will offer a tailored financing package to Egypt Post employees and pensioners who bank with Egypt Post, providing access to a wide range of financial products and services. The package includes personal financing facilities at competitive interest rates and simplified procedures.
The protocol supports the government's efforts to digitize public services and expand financial service delivery, and falls under the Ministry of Social Solidarity's Strategic Financial System for Economic Empowerment Program. By easing the burden on citizens and reducing congestion at bank branches, the cooperation advances Egypt's digital transformation agenda while supporting economic and social stability.