The Chairmen of the Bank since its inception until now
Mr.Samy Abou Elezz
Mr.Elsayed Mohamed Marzouq ElKosayer
Since 2016 until now
The Egyptian Agricultural Lending Bank was established by the state during the global economic crisis by virtue of the decree – law No. 50 of 1930 with a capital of one million Egyptian pounds, and by the royal decree of 1931 to provide farmers with loans to protect them from the foreign real estate banks and usurers. Since the promulgation of the law No. 117 of 1976 changing the name of the bank to “Principal Bank for Development and Agricultural Credit”, the bank was keen on providing support and funding necessary for farmers for all types of agricultural crops and all activities related thereto as well as providing all banking services and financing small and micro enterprises, natural gas and biogas loans particularly in rural areas.
Law No. 84 of 2016 has recently been promulgated. It states that Principal Bank for Development and Agricultural Credit shall be transferred to a public sector bank under the name of (Agricultural Bank of Egypt) in the form of a Joint Stock Company. Its capital shall be wholly owned by the state, it shall have an independent legal personality, its headquarters shall be in Great Cairo, and all rights and liabilities of Principal Bank for Development and Agricultural Credit shall devolve thereto.
Under this law, the Agricultural Bank of Egypt shall be subject to the provisions of Law No. 88 of 2003 promulgating the Law of the Central Bank, the Banking Sector and Money. Agricultural Bank of Egypt aims at providing the necessary funding for various types of agricultural and rural development activities in accordance with the banking systems applicable within the framework of the State public policy.
Agricultural Bank of Egypt is considered one of the most important development institutions for the agricultural activity in Egypt. It is one of the biggest agricultural banks in the Arab world and Middle East as it owns more than 1210 branches and village banks that cover all the country of Egypt. Besides, it owns more than 4 million m² storage capacities, 2 million m² of which are allocated to receive the local grainsfrom farmers. The number of the shunas is 392 all over the country.
The bank works constantly to develop its performance, diversify its current services and to introduce new services to cope with the requirements of the successive stages and to introduce financial funding services and other activities that suit all the customers in rural and urban areas. It also provides support for the agricultural sector in all fields to get to the sufficiency of food in order to fulfill its national duty in executing the country’s agricultural policy and to serve the national income to achieve the comprehensive development that suits the economic variables.
The bank applies the international basis and standards within the framework of the rules of disclosure and transparency. The management of the bank exercises its function within the framework of the general policy of the bank through the bank’s units located all over the governorates, towns, and villages