Banque Du Caire participated in the Initiative for the Development of Traditional Heritage Handicrafts and Local Industries in the Governorates of Upper Egypt which aims at supporting all craftsmen, as well as encouraging rural, Bedouin, and bread winning women to start up their own micro enterprises. This initiative also endeavors to encourage youth to take interest in traditional crafts and start up their own projects in this sector. This initiative is compatible with both the national policies and the directives of the Central Bank of Egypt to support socio economic projects.
In this respect Mr. Mounir El Zahid, the Chairman of the board of Directors and Executive Director asserts that supporting this initiative in collaboration with "Future Egypt"(Misr Al Mustaqbal) association complements the methodological plan adopted by Banque Du Caire in supporting small, medium and micro enterprises so as to empower all members of all classes to start up their own projects, thus creating work opportunities, reducing poverty and improving the standard of living of local communities engaged in traditional handicrafts. This initiative shall provide sustainable income to craftsmen and open up new marketing channels for their products, and shall also open cooperative training centers in rural, bedouin and desert areas in Upper Egypt and the Red Sea area. This effort shall consequently create inclusive financing and expand the base of bank customers, a matter that would ultimately lead to comprehensive economic development.
This initiative commenced in the governorates of Luxor and Aswan in Upper Egypt and concluded by a final conference in the Culture Palace in Luxor governorate which was attended by a large number of university professors, representatives of civil society organizations involved in the initiative as well as many craftsmen engaged in handicrafts, as well as owners of small enterprises.