By : Wael Elgafry
QNB Egypt, a subsidiary of QNB Group, a leading financial institution in the Middle East and Africa, signed a credit facility agreement with GlobalCorp Financial Services Group, one of the leading non-banking financial services providers in the Egyptian market.
Under this agreement, the bank will provide a credit facilities worth EGP 2 billion, dedicated to financing leasing contracts across various sectors. In addition, an EGP 1 billion will be allocated to real estate financing. The facility is aimed at supporting GlobalCorp ‘s expansion plans and enhancing its ability to offer flexible and innovative financing solutions tailored to the needs of its clients across various economic sectors.
This cooperation comes in light of the growing focus on supporting non-banking financial companies, enabling them to expand and meet market demands, thus boosting investment and supporting economic growth, in line with the QNB Group’s strategic goal to support vital sectors in the markets where it operates.
The agreement was signed by Mr. Mohamed Bedeir, Chief Executive Officer of QNB Egypt, and Mr. Hatem Samir, Founder and CEO of Global Corp Financial Services Group, in the presence of a number of officials from both sides.
Commenting on the agreement, Mr. Mohamed Bedeir, CEO of QNB Egypt, said:
“This collaboration reflects the bank’s commitment to expanding its strategic partnerships with leading financial institutions and supporting productive and service sectors by providing effective financing solutions that help drive development, especially amid current economic challenges. The leasing sector is one of the key pillars supporting business growth, as it offers flexible financing alternatives that enable efficient expansion.”
Mr. Hatem Samir, Founder and CEO of Global Corp Financial Services Group, stated that this agreement represents an important strategic step in the group’s journey to strengthen its expansion capabilities in both leasing and real estate finance. He noted that the partnership with QNB Egypt reflects mutual confidence in the group’s strong financial position and future strategy.
Samir added that through this collaboration, Global Corp aims to support its expansion plans and increase its ability to meet the growing demand for innovative financing solutions, with a focus on supporting various economic sectors, particularly SMEs, thereby contributing to economic growth and enhancing financial inclusion.
In conclusion, Global Corp Financial Services Group reaffirmed its commitment to continuing the development of innovative financing solutions that meet the needs of the Egyptian market and strengthen its role as a strategic partner in supporting the national economy, while expanding the provision of integrated non-banking financial services that meet the highest standards of quality and efficiency.
This collaboration represents an important step toward enhancing integration between the banking sector and non-banking financial institutions, contributing to a more efficient and flexible financial ecosystem. It also contributes to sustainable economic growth and the creation of new employment opportunities.
