Egypt’s Banque Misr said on Tuesday that it has invested in digital platform for public auctions BELMAZAD.
The investment and partnership align with Banque Misr’s digital transformation strategy to enhance and digitise its operations, supporting the Egyptian government’s initiative to accelerate digital transformation through increased reliance on technology in real estate asset management.
BELMAZAD will feature assets owned by Banque Misr, available for bidding in an open auction format through the platform. This initiative will facilitate a more efficient and transparent asset management and sales process.
“Our commitment to digital transformation is aimed at continually providing electronic solutions that simplify processes for our customers, tailored to their needs,” said Mohamed El Etreby, the Chairman of Banque Misr.
“Leveraging technology has become essential in maintaining competitive and leading economic entities, and through our partnership with ‘BELMAZAD,’ we are enhancing our services and supporting digital transformation.”
BELMAZAD aims to digitize traditional auction processes by reducing reliance on manual interventions, thus increasing transparency and impartiality in transactions.
Banque Misr continues to support digital transformation efforts by providing electronic solutions that significantly enhance banking and financial services for its customers, fostering a commitment to sustainable development and prosperity in Egypt.
