State-run Banque du Caire has signed a memorandum of understanding (MoU) with Tamweely Microfinance to provide microenterprises business owners with digital payment and collection services, according to a press release
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The new service will enable microlending beneficiaries to obtain their funding through the bank’s Qahera Cash, a mobile wallet application, in addition to inquiring about the loan instalment and repayment value.
The new agreement aims to endorse the bank’s efforts to expand digital payment services through Qahera Cash, Head of Retail Department at Banque du Caire Mohamed Tharwat said.
