COUNTRY FOCUS: EGYPT
Careem-Egypt is the ideal partner to
work with to move towards a cashless
society, by introducing more innovative
digital payment solutions, integrating
technology with financial products in
order to cater for under-banked citizens
and accelerate the financial inclusion
– meaning use of the CIB Smart
Wallet can become embedded into the
customers’ daily routine.
“At Careem-Egypt, our mission is to
simplify people’s lives and we continually
pursue innovating ways to achieve this
goal. Our partnership with CIB-Egypt
demonstrates our commitment to
optimise the best customer experience,
by sharply focusing on client satisfaction,”
said Ramy Kato, Careem Egypt
Managing Director.
CIB-Egypt has invested heavily in its
digital platforms and IT infrastructure,
adopting latest technologies and offering
best-in-class services and products. As a
result CIB-Egypt has been diversifying
its digital banking offering, including
internet banking, a mobile banking
application, and a wide network of more
than 800 ATMs across the country.
“Our mission
is to simplify
people’s
lives and we
continually
pursue
innovating
ways to achieve
this goal.”
ALEXBANK forms partnership with
Vodaphone to expand mobile
banking offer
Vodafone Egypt has signed a
partnership agreement with ALEXBANK
to support Vodafone Cash Mobile
Money Transfer.
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INTELLIGENTCIO
“It marks an
important
move towards
a substantial
increase in the
use of mobile
payment
services.”
This new strategic partnership aims at
further developing interactive services
for Vodafone customers and contributes
to providing innovative financial
solutions. The agreement enables
Vodafone Cash customers to enjoy a
complete portfolio of financial services
featuring convenient and safe payments
directly via their mobile phone, through
the MasterCard network.
An agreement was signed by Stefano
Gastaut, Vodafone Egypt CEO, and
Dante Campioni, Managing Director
and CEO of ALEXBANK.
Karim Shehata, Vodafone Egypt
Consumer Sales Director, said this new
partnership with ALEXBANK is a vital
step towards the development of mobile
e-payments system in Egypt.
“It marks an important move towards a
substantial increase in the use of mobile
payment services in Egypt, anywhere
and at any time, even during vacations
and official holidays,” he said.
“Customers can also deposit or withdraw
cash from ATMs after receiving required
monetary approval.”
He added that the ease of Vodafone
Cash e-wallets represents a successful
technological model that works to
fulfil customers’ daily needs. “Such
partnerships will work to transform Egypt
into a cashless community,” he said.
Sherif Lokman, Head of Retail Banking
and Small Businesses at ALEXBANK, said
the agreement would allow Egyptians to
enjoy state-of-the-art financial solutions.
Lokman emphasised that ALEXBANK
supports the expansion of electronic
banking services, alongside ‘Digical’,
its own internet banking service, and
‘Ma7fazty’, ALEXBANK’s electronic
wallet solution.
He added that ALEXBANK does not see
any conflict between developing its own
products and supporting those from
other vendors such as the Vodafone
Cash wallet as the market potential is
“Such
partnerships
will work to
transform Egypt
into a cashless
community.”
extremely wide and a different customer
base would be attracted.
“In this phase our priority is to reach
more people and serve the objective
of achieving better financial inclusion
favouring the decrease of cash
settlements” he added.
Bank aims to improve the
financial inclusion of women
through technology
ALEXBANK has also been busy
improving the financial inclusion of
women living in rural Egypt, enhancing
the financial literacy of women, and
supporting women in business.
It has signed a Memorandum of
Understanding (MOU) with the National
Council for Women (NCW) aimed at
complying with the Egyptian National
Women Strategy 2030.
Dr Maya Morsy, Head of the National
Council for Women, said: “The NCW
aims at developing mechanisms to
expand financial inclusion to ensure
women’s access to financial and non-
financial services in every governorate
and village in Egypt.”
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