BANQUE MISR CAIRO - History

History

 
 
The careful study of the events that made Banque Misr helps the historian trace the evolution of a financial group so closely connected to the development of its country that it stands as an example for the financial institutions of developing countries.

1920 - When Tala'at Harb and several other Egyptian personalities founded Banque Misr , it was the start of a series of economic upheavals which marked Egypt in that century. At that time, it is true, the Egyptian banking system consisted only of foreign institutions. The founders set Banque Misr the ambitious objectives necessary to the development of the national economy.

Especially :

  promoting individual saving schemes and investments for the benefit of the country's economy,
  training qualified banking staff and using Arabic in banking operations,
  organising adequate financial services to help all economic agents, especially companies.

It is by achieving these objectives that Banque Misr , founded with a small capital, became an institution of legend, the driving force of the Egyptian economy.


1922 - Banque Misr opened the first of a series of subsidiaries, the major actors behind industrial, commercial and transport activities. Rapidly, the MISR Group, present in all sectors of the economy, contributed to the technical development of production means, playing a pioneering role for entrepreneurs.

Banque Misr exported its activities to Arab countries through its branches, their expertise helping them set up their own banking and financial organisations.


1940 - When the Second World War stopped imports, the MISR Group became the major player in Egyptian economy. The group's production and activity covered domestic needs and the needs of the allied forces in the desert.


1959 - The MISR Group is composed of 25 companies. Thanks to the quality of its services and the development of its agencies in Egypt, the group played a crucial part in the national economy.


1960 - Banque Misr was nationalised by decree and the shareholders compensated proportionally to their shares in the capital. At that time, the MISR Group, with the Bank and its affiliated companies, was Egypt's most important group. Its new status focused the group's activity on banking and financial operations. The subsidiaries became autonomous. Thanks to the government's trust, it was able to pursue the objectives set by its founders.


1974 - The 'open door' policy made Cairo into an international financial place. Within a few years, several banks opened in Cairo. Banque Misr consolidated its position. It was reorganised and its means developed. In addition to standard banking services, it introduced new products such as saving schemes. A new MISR Group was rebuilt.


1984 - Banque Misr has many agencies throughout Egypt, with seven operating directly on the international markets. It has 6 affiliated companies, very active in the Egyptian economy.

With Egypt opening to international banks, Egyptian banks had to be present on the main financial places.
Banque Misr chose Paris for its first foreign branch.



List of the successive presidents of Banque Misr

Follows the names of all the successive presidents of Banque Misr

Tala'at Harb
Ahmed Medhat Yakan
Hafez Afifi
Abdel Elmaksoud Ahmed
Abdel Elhamed Sharif
Mohamed Roshdi
Ahmed Fouad
Mohamed Nabil Ibrahim
Mahmoud Mohamed Mahmoud
Mohamed Ali Hafez
Essam Eldin Mohamed El Ahmady
Bahaa El Din Helmy
Mohamed Kamel El Din Barakat



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