EFIG has announced the activation of its electronic systems to receive installment payments in US dollars for residential units allocated to overseas Egyptians under the "Beitak fi Masr" national initiative. This initiative is a collaborative effort with the Ministries of Housing and Finance, the Central Bank, and Banque Misr.

eFinance clarified that the processing of dollar installment transfers will be conducted through the Ministry of Finance's Electronic Payment and Collection Center, which is operated by e-finance. This platform enables overseas residents to pay for or make installments on their residential units using modern electronic methods. The electronic collection system ensures the secure and accurate settlement of these transactions.

Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, underscored the impressive response to the "Beitak fi Masr" initiative. Within just 48 hours of opening reservations, approximately $2.5 million was collected through electronic payments and bank transfers.

The Minister also highlighted the signing of a tripartite cooperation protocol between the New Urban Communities Authority, Banque Misr, and e-finance. This protocol aims to provide advanced electronic payment solutions, offering convenient and secure payment options through multiple channels. This will facilitate the transfer of due amounts for residential unit reservations from various countries.

The official initiative website, developed in collaboration with Excellent (a subsidiary of United Media Services), eFinance, and Banque Misr, provides a fully integrated digital platform. Through this platform, users can remotely explore housing units via high-resolution virtual tours, access detailed project information, and complete the reservation process online, ensuring a seamless, transparent, and efficient experience for expatriates.

He added that the initiative's website was developed in collaboration with Excellent Company, a subsidiary of United Media Services, e-finance, and Banque Misr. It allows users to upload required documents after completion, whether through bank transfer, exchange transfer, or reservation and payment via credit cards on the website. This provides diverse, fast, secure, and reliable payment solutions, saving customers time and effort.

Ibrahim Sarhan, Chairman of eFinance for Financial and Digital Investments, expressed his pride in the Group's achievements in supporting and advancing the national digital transformation across all government entities and economic sectors. He highlighted the leading role of the financial operations technology subsidiary in handling government revenues, both domestic and foreign, thanks to its state-of-the-art technological infrastructure that ensures speed, accuracy, and security.

He added that e-finance's support for the "Beitak fi Masr" national initiative will drive its success, trust, and rapid expansion. This will be achieved through highly accurate, fast, and secure financial technology for digital collection of residential unit values and installments in dollars, building on the successes and achievements that citizens have come to expect from the Group's various payment and fintech services, especially in cooperation with the Ministry of Housing.

Hisham Okasha, Chairman of Banque Misr, expressed the bank's pride in participating in the "Beitak fi Masr" national initiative. He emphasized the continued fruitful cooperation with the Ministry of Finance and e-finance, ensuring the same outstanding results achieved in government revenue collection over the past years.

At eFinance, we are proud to have achieved remarkable success in collecting electronic payments in foreign currency through the yacht tourism single platform and the government's Electronic Payment and Collection Center portal. This aligns with the state's efforts to enhance yacht tourism through an electronic platform that involves all relevant authorities, streamlining procedures and approvals for foreign yachts and issuing electronic invoices in US dollars.