الرئيس التنفيذي لشركة "فوري للمدفوعات الإلكترونية" المصرية لـ CNBC عربية: المدفوعات نمت بنحو 30 مليار جنيه في الربع الأول والأنشطة المالية زادت 100% بالربع الأول

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Watch الرئيس التنفيذي لشركة "فوري للمدفوعات الإلكترونية" المصرية لـ CNBC عربية: المدفوعات نمت بنحو 30 مليار جنيه في الربع الأول والأنشطة المالية زادت 100% بالربع الأول - CNBCArabia on Dailymotion

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00:00The development was fueled by the diversification of activities and the increase in the activities

00:07that are being implemented immediately.

00:08What happened today is that we had a development in wills of about 60%, and the main factor

00:15in this development was financial services and financial services.

00:20The acceptance of payments grew by about 30 billion pounds in the quarter.

00:25Financial activities, such as loans, savings, and security measures, also had a 100% growth.

00:38This, at the same time, with control over expenses, led in the end to profits doubling

00:48twice and a half compared to the previous year.

00:52Yes, Mr. Ashraf, you mentioned earlier that you negotiated with an Emirati company

00:58regarding the service of foreign transfers.

01:01Can you tell us about the latest developments surrounding this project

01:05and also about your expansion in the Gulf region in general?

01:10Our expansion in the Gulf region is based on the fact that we are making partnerships

01:18with institutions in countries such as the UAE, Saudi Arabia, and Kuwait.

01:24This partnership aims to facilitate financial transactions between either the citizens of

01:37the Gulf countries when they come to Egypt or the Egyptian citizens who live in the Gulf countries.

01:45We see that strategic cooperation with companies in the UAE, Saudi Arabia,

01:51and a large company in Egypt, such as Fawry, will create a kind of added value for both parties

01:58and for the benefit of both parties.

02:00Our strategic plan is more of a cooperation with companies in those areas

02:07in order to create solutions that are serving the citizens in the Gulf and the Egyptian citizens.

02:19Mr. Ashraf, you also announced a plan to launch investment banks.

02:23What are the implications of this plan and what sectors will you focus on to activate these banks?

02:30We are cooperating with the director of these banks.

02:33The first service we launched was a daily revolution, and this is a money market fund.

02:38Today, we are also working with the director of these banks on investment services in the stock market

02:44and gold services.

02:46We are cooperating with them on a distribution channel to access investment services

02:54for the citizens to the general public.

02:57Instead of being concentrated only in the institutions, we can reach a larger base of customers

03:03through an application such as the application of MyFawry today for millions of users.

03:08We are trying to expand the list of financial services so that investment does not remain

03:14instead of being a secure deposit, such as the money market fund,

03:18such as gold certificates, such as investment in the stock market.

03:26We want an array of services that is larger than what is available today

03:32so that it is compatible with the need for investment in various sectors of the existing individuals.

03:40Mr. Ashraf, you also announced a plan to launch a digital bank.

03:46What are the last steps that took place in this project?

03:51As we said before, we promised that we would finish the study in the first quarter.

03:58Unfortunately, it took a while, but we are in serious negotiations

04:04and we will announce in the appropriate time the final decision on this issue.

04:12Let's go back to the Egyptian market.

04:15What are your future and expansion plans in the local market?

04:19What are the main targets?

04:22You mentioned gold and stock exchanges.

04:27What are the other activities and expansions?

04:30We have a very large focus on small and medium-sized companies

04:37and we are keen to provide them with complete financial services.

04:42In addition, we provide them with payment methods, payment methods for depositors,

04:48investment methods, so that we have complete solutions for their financial systems.

04:56What we are trying to do now is to focus on medium-sized companies.

05:05As for the individuals, we continue to provide the services we provide to MyFourie employees

05:14so that we can provide them with more complete services

05:19and an easier experience in dealing with the company.

05:24We see that Egypt still has many opportunities

05:29and small and medium-sized companies are still looking for more services.

05:37In cooperation with the Egyptian banks, we will be able to provide complete services to this sector.

05:43Mr. Ashraf, the International Bank had expected the growth of the financial technology sector in the Middle East

05:51to more than $3 billion over the next two years.

05:55It is a promising sector.

05:57What are the latest developments in your services in general, especially in your external expansions?

06:05As we were saying, there are large sectors in the region, especially in a large country like Egypt,

06:13where the financial services provided by these companies or individuals are not enough to provide financial services.

06:27What will be able to deliver financial services to these companies is technology.

06:32Because technology can help reach financial services to other sectors,

06:40which are targeted by banks, large companies or individuals with high income or wealth customers.

06:49We want to reach people or companies with less ability at a lower cost,

06:56so that the activity can also be profitable for financial institutions,

06:59and for the revolutionary company and useful for the targeted sectors.

07:02Mr. Ashraf, in the light of the freeing up of the exchange rate and economic reforms

07:06that the Egyptian government is trying to implement,

07:09what are your targets until the end of 2024?

07:13And does your financial center allow the expansions you are talking about today?

07:19As for the financial center, yes.

07:21We are a company that re-invests its profits in expansions.

07:26So, those who follow the financial results of this company,

07:30we are more keen to re-invest, because the opportunities are very high.

07:35So, the financial staff and the financial center of the company

07:39allow it to invest new investments in different sectors.

07:45As we said, for 2024, the beginning is very bright,

07:53and we expect that we will be able to achieve the expected results of the financial analysts by the end of the year.

08:04Mr. Ashraf Sabri, the CEO of Fawry Electronics,

08:09you were with us from Cairo. Thank you very much.

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