Emirates NBD Egypt signs MOU with Kheir Wa Baraka "Ultra Poor" initiative
The Bank collaborated with Kheir Wa Baraka's "Ultra Poor" initiative; where Emirates NBD Egypt can reach out to families living on less than 13 EGP (0.7 USD) a day. The main beneficiaries of the program are those families comprising of four or five members. As an activity under the Exchanger Volunteering Program, volunteers from Emirates NBD Egypt will be dispatched to aid these families on-ground after the bank's CEO, Mohamed Berro signed a Memorandum of Understanding with Kheir Wa Baraka CEO, Mohsen Sarhan. Emirates NBD Egypt will be operating with the program for 18 months to provide 100 selected families comprised of approximately 550 beneficiaries with their aid. These families will be covered socially, economically, healthily and nutritionally, in addition to financial inclusion and empowerment of women whilst providing safe housing for families in need.
Explicating the bank's participation in the Ultra Poor program, CEO Mohamed Berro commented, "Emirates NBD Egypt is deeply invested in providing support to the country's disadvantaged families especially on matters involving health care and education. We are dedicated in addressing and rectifying school drop-out rates within these communities and in giving women in debt a chance at economic recovery."
Through this cooperation, Emirates NBD Egypt will provide these families with the ability to enroll their children in schools, as well as provide basic health care for them. Children who are classified as dropouts in these families will also immediately be placed in the formal education system, in line with the Bank's objectives of supporting education.
In line with the goals of this initiative, Emirates NBD Egypt will provide urgent medical examinations for the families in need and, if necessary, direct intervention through government hospitals or through the Kheir wa Baraka medical team, which will continue to follow up on the health of these families when needed.
Head of Marketing and Customer Experience at Emirates NBD, Heidy Ragheb concurred with Mr. Berro, adding, "Emirates NBD Egypt is always committed to providing more access to people with special needs and has experience in launching the first group of branches without borders."