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Cairo, Egypt, 18 May 2022: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia has partnered with valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle enabling fintech platform. Through 'Sha2labaz', the unique redemption product introduced by valU in November 2021, both non-valU and valU shoppers at Mall of Egypt and City Centre Almaza will receive cash reimbursements against any purchase they make. Payments can be made in installments by selecting one of valU’s payment tenors paid over versatile installment plans ranging from 6 to 60 months. The amount reimbursed will vary subject to the customer’s valU limit, providing instant access to easy payment solutions. 'Sha2labaz' is a product that has allowed valU to expand its service offering to a wider audience, further highlighting the brand’s efforts to provide instant access to installment products.

 

Hanny El Messiry, Managing Director of West Region Shopping Malls at Majid Al Futtaim – Properties, commented, "At Majid Al Futtaim Properties, we are constantly identifying and adopting new and innovative solutions that create elevated shopping experiences, and look to offer our customers added convenience and comfort. This partnership with valU is a testament to this commitment, enabling us to continue to meet and address the demand for flexible and efficient payment processes and plans in Egypt. We will remain dedicated to ensuring customer experience is at the heart of our operations, ensuring that we continue to pursue opportunities that create great moments for everyone, everyday."

 

'Sha2labaz' allows customers to redeem the value of purchases made across Majid Al Futtaim’s expansive range of retail outlets in Egypt and is not limited to stores in valU’s network alone. This supports valU’s expanding customer base and is in line with the country’s drive for financial inclusion.

 

“We are delighted to be introducing 'Sha2labaz' to Majid Al Futtaim's flagship shopping malls in Egypt in line with our ongoing efforts to offer convenient financial solutions for our customers and non-valU clients as they benefit from the opportunity to draw on valU’s seamless BNPL model. Our long-standing partnership with Majid Al Futtaim's shopping malls in Egypt has allowed us both to offer customers an enhanced experience across the budding retail space in the country. This unique product is a testament to the versatility and ingenuity of the valU team as it reflects our clear focus on customer centricity, making sure that our customers feel empowered at all times. At valU, we stand by the belief that customers' trust deserves to be met with innovative solutions and a seamless customer experience,” added Walid Hassouna, CEO of the Non-Bank Financial Institutions (NBFI) platform at EFG Hermes Holding and CEO of valU.

 

valU has retained its position as the market leader in BNPL solutions, serving as a platform through which consumers can access financing solutions across various sectors. Having successfully grown its service offering in the retail sector, valU similarly is focused on key sectors including healthcare, education, real estate, sports club financing and many more. Initiatives such as the “valU Family” product and the youth financing product “Ma3ak” further cement valU’s commitment to meeting the needs of underserved market segments.

 

Majid Al Futtaim's Mall of Egypt and City Centre Almaza provide communities in both the East and West regions of Cairo with a range of unique offerings, including the exclusive VOX Cinemas, Magic Planet, various F&B outlets, and Ski Egypt.