Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a subsidiary of the UAE-listed FAB, has unveiled a banking segment under the name Al Oula that is crafted to champion women’s financial empowerment, according to a press release.
The initiative delivers tailored financial solutions for women, combining superior savings benefits with curated lifestyle rewards while redefining how women in Egypt experience financial services.
The CEO and Managing Director of FABMISR, Mohamed Abbas Fayed, said: “This launch goes beyond banking, it is about building a platform that truly understands and supports women’s evolving needs, an area that remains underdeveloped in Egypt’s financial landscape.”
Fayed added: “With a clear gap in targeted financial offerings, Al Oula is positioned as a first mover in women-focused services. By combining seamless digital onboarding with tailored benefits and lifestyle-driven rewards, we are offering a modern banking experience that empowers women throughout their financial journey.”
With women’s financial inclusion remaining a national priority, the bank’s Al Oula Savings Account has been thoughtfully designed to provide women with accessible and rewarding banking benefits, with an entry requirement of EGP 1,000 to open the account and no minimum balance fees.
Account holders of Al Oula also benefit from a free credit card packed with exclusive features tailored to women’s everyday spending habits, including special discounts at beauty salons, clinics, online platforms, and more. Furthermore, there will be reward points on grocery shopping, food delivery services, and ride-hailing apps, adding everyday value to every transaction.
According to the Central Bank of Egypt (CBE), the number of financially included women rose from 20.30 million to 20.50 million between December 2023 and March 2024, out of a total of 32.30 million.
Meanwhile, Al Oula stands at the forefront of these efforts, further contributing to the empowerment of an additional 12 million women in the financial inclusion system.
It is worth noting that FAB’s subsidiary in Egypt recently arranged a loan worth EGP 4.20 billion for Redcon Properties to finance the execution of the company’s project Golden Gate in New Cairo.
