Al Baraka Bank Egypt Partners with MSMEDA to Expand SME Financing Nationwide
Reflecting this commitment, the total financing provided by the bank to the SME sector reached EGP 8 billion by the end of September 2025, reflecting its commitment to expanding support for this vital sector.
As part of its strategy to launch innovative financing programs targeting multiple sectors, Al Baraka Bank Egypt announced the signing of a new agreement with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). Under this agreement, the bank will receive EGP 200 million over a period of more than three years to refinance SMEs and entrepreneurs at competitive rates, encouraging them to expand and grow. Reflecting this commitment, the total financing provided by the bank to the SME sector reached EGP 8 billion by the end of September 2025, reflecting its commitment to expanding support for this vital sector.
“This agreement with MSMEDA represents a strategic step that reflects Al Baraka Bank Egypt’s commitment to sustainable development and empowering the SME sector, which we consider a key driver of economic growth and job creation. These efforts have enabled us to dedicate over 25% of our portfolio to this sector, reinforcing the bank’s role as a developmental and strategic partner to the Egyptian economy, and motivating us to continue providing innovative financing solutions and impactful partnerships that support national growth.”
– Mr. Hazem Hegazy, CEO and Vice Chairman, Al Baraka Bank Egypt
Mr. Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), stated that the cooperation with Al Baraka Bank aligns with the Agency’s plan to diversify financing mechanisms and meet clients’ needs. He commended Al Baraka Bank – Egypt for its strong market performance and diverse financing products, including Islamic finance solutions.
Rahmy explained that the agreement aims to empower youth and entrepreneurs nationwide by providing financing to launch or expand projects, particularly for business owners formalizing their operations to benefit from state facilities. The agreement also targets entrepreneurship, digital transformation, AI, industrial ventures, machinery modernization, and agricultural, livestock, and IT projects.
“This collaboration represents an important addition to the bank’s journey in supporting SMEs, giving us greater capacity to finance a growing number of businesses and entrepreneurs through flexible products and competitive rates. To date, the bank has financed 965 diverse projects across sectors including industry, renewable energy, agriculture, pharmaceuticals, healthcare, and trade — an achievement crowned by receiving the ‘Best New SME Product of the Year – Islamic Products’ award from The Digital Banker in 2025.”
– Mr. Ahmed Soliman, Head of SME Banking, Al Baraka Bank Egypt
