Belmazad.com has signed an operating agreement with National Bank of Egypt to support digital transformation of asset marketing and sales, enhancing the efficiency, transparency, and reach of electronic public auctions.
The partnership reflects the growing commitment of leading financial institutions to maximize asset value and accelerate digital adoption. Through the agreement, the two parties aim to streamline asset sales processes and leverage technology-driven solutions to improve auction performance and customer engagement.
Commenting on the agreement, Ahmed ElSaid, ‏Chief Investment Officer at National Bank of Egypt, said that the collaboration marks an important strategic milestone in the continued development of the bank’s Investment Trustees Sector.
He added that the partnership underscores National Bank of Egypt’s commitment to adopting innovative digital solutions that enhance transparency, maximize returns from asset sales, and improve customer experience, while strengthening the bank’s long-term competitiveness in an evolving market environment.
ElSaid noted that the partnership is designed to support a range of strategic objectives, including maximizing returns on asset sales, accelerating digital transformation, and leveraging artificial intelligence technologies to enhance operational efficiency.
The initiative also aligns with the bank’s sustainability agenda by supporting the fintech ecosystem, expanding financial inclusion, and delivering a seamless customer experience.
He pointed out that the agreement will ensure the highest levels of transparency and competitive integrity, enabling fair bidding processes that generate market-driven pricing and maximize value.
National Bank of Egypt’s Chief Investment Officer disclosed that the partnership is the outcome of extensive collaboration and coordination among multiple departments and teams within the NBE, ensuring full compliance with the bank’s governance framework, policies, and operation standards.
Mahmoud Farahat, Co-Founder of Belmazad.com, described the agreement as a major milestone for the platform, noting that the National Bank of Egypt’s extensive portfolio of marketable assets will offer investors a wide range of high-value opportunities through Belmazad’s digital auction platform.
Farahat stated that the partnership with the National Bank of Egypt will expand investment opportunities by giving investors and buyers access to a diverse portfolio of assets owned by the bank and jointly held with other financial institutions, helping create a more dynamic marketplace.
He said that the agreement as a transformative step for Belmazad.com, reflecting the platform’s growing role in reshaping the asset sales market through digital innovation.
Farahat added that Belmazad.com will utilize its digital auction platform and technology solutions to market these assets more efficiently, expanding buyer reach, maximizing asset value, and ensuring a transparent sales process.
By digitizing the asset sales process, the platform will help improve price discovery, increase bidder participation, and deliver a seamless user experience, ultimately maximizing value for asset owners while expanding investment opportunities for buyers.
Farahat noted that Belmazad.com has invested in AI-powered visualization and VR technologies, enabling investors to explore assets remotely, enhance transparency, and make more informed purchasing decisions.
Belmazad.com is pioneering AI-powered virtual tours in the online auction sector, offering buyers a more interactive experience while helping sellers maximize asset visibility and value, he added.
Farahat further said, “The agreement supports Belmazad.com’s expansion strategy by broadening the range of assets offered on its digital marketplace, strengthening its position in Egypt’s online asset sales sector and creating more opportunities for investors”.
The co-founder disclosed that Belmazad.com’s digital infrastructure enables efficient asset marketing and real-time auction tracking, enhancing transparency, user engagement, and the overall efficiency of asset sales.
Meanwhile, Omar EL Dewey, Co-Founder Belmazad.com, announced the signing of an additional agreement with the NBE to implement an escrow account mechanism for transactions conducted through the platform. The system represents a critical safeguard, ensuring secure and reliable payment processing for online auction participants.
According to EL Dewey, the integration of the escrow account system completes the platform’s fully digital operating framework, enabling every stage of the customer journey—from registration and bidding to payment and transaction settlement—to be conducted electronically.
He added that this milestone reinforces Belmazad.com’s position as a pioneer in Egypt’s digital auction market, offering a fully integrated, secure, and technology-driven experience for both buyers and sellers.
Moreover, he stated that partnering with an institution as prominent as the NBE represents a significant vote of confidence in the platform’s capabilities and the digital model it has developed for asset marketing and sales.
EL Dewey noted that the agreement demonstrates Belmazad.com’s ability to efficiently manage and market large-scale asset portfolios while adhering to the highest standards of professionalism and governance. Additionally, the partnership marks a new chapter in the platform’s growth story, reflecting its continuous technological advancement, expanding service offerings, and increasing volume of assets transacted through its digital marketplace.
El-Dewey said, “The National Bank of Egypt’s adoption of advanced digital solutions for asset management and sales reflects its commitment to maximizing asset value and enhancing operational efficiency.”
He added that the collaboration will give investors access to a diverse portfolio of assets through a transparent marketplace that promotes fair bidding and accurate asset valuation.
El-Dewey said that the partnership supports Belmazad.com’s vision of transforming Egypt’s asset sales market by expanding investment opportunities through a seamless digital marketplace aligned with the country’s digital transformation goals.
He added that Belmazad.com is pursuing an expansion strategy to attract financial institutions, corporations, and major asset owners through transparent, technology-driven sales channels.
“Belmazad.com is focused on creating a trusted digital ecosystem that simplifies the asset sales process for all stakeholders,” El-Dewey said. “As we continue to grow our portfolio and strengthen our technology platform, our goal is to provide a smarter, more secure, and highly accessible marketplace that delivers value to both sellers and buyers.”