Arab Finance: Announce Abu Dhabi Islamic Bank – Egypt ADIB-Egypt About its cooperation with “PayMint”, a leader in financial technology services, to launch its first prepaid Meeza cards, after obtaining final approval from the Central Bank of Egypt, according to the statement.For a statement Sent on January 6.
This step comes within the framework of the bank’s continuous endeavor to increase cooperation with financial technology companies, to provide flexible solutions that contribute to the growth and development of the bank’s contribution to enhancing financial inclusion, in a way that supports the vision of the state and the Central Bank of Egypt to transform into a society that relies on digital, non-cash solutions, and provide wide-ranging services. Through the latest digital solutions that meet the needs of customers in Egypt.
Under this cooperation, the new card (supported by the Egyptian Digital Payments Company “MDP”, which specializes in the field of manufacturing bank cards and electronic payment solutions) enables “PayMint” customers to use it in daily transactions, including cash withdrawals, purchases, and “online” purchases within Egypt, as well as Card usage, available balance and card control can be monitored through the mobile application.
Commenting on this cooperation, Mohamed Ali, CEO and Managing Director of Abu Dhabi Islamic Bank – Egypt ADIB-Egypt, said: “We are happy to partner with the leading financial technology company “PayMint,” as this partnership reflects the bank’s interest in applying the latest technological solutions compatible with… Principles and provisions of Islamic Sharia to support customers and enable them to manage their money easily and safely.” He continued: “PayMint's current services are consistent with the bank's strategy and vision, which aims to expand the scope of its banking services and digital solutions.”
Amr Sanad, Head of the Retail Banking Sector at Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt), also explained that the bank is confident that this card will be widely accepted by customers, especially with the increasing reliance on digital and technological solutions in daily financial transactions.
Sherif Mounir, Head of the Cards Department in the Retail Banking Sector at Abu Dhabi Islamic Bank – Egypt ADIB-Egypt, said: “Through our partnership together, we look forward to enhancing the position of financial technology in Egypt and enhancing the growth of the bank’s card portfolio, to provide a more flexible and smooth banking experience for customers.” “The card allows daily transactions, including cash withdrawals, purchases, and online purchases within Egypt. The cardholder can also monitor the use of the card, the available balance, and control the card through the mobile phone application.”
For his part, Mohamed Yahya, Vice Chairman of the Board of Directors of PayMint, said: “We constantly strive to diversify our services to provide a unique experience, in addition to providing these services with the highest levels of security and data confidentiality to our individual and corporate clients, and obtaining the PCI-DSS certification represents an enhancement of existing trust.” With our customers in order to provide a fully insured service.
Mohamed Rabie, Managing Director of PayMint, a financial technology services company, said: “We are proud of our new partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt), one of the most prominent banks operating in the Egyptian banking sector, and one that has an active and pioneering role in partnerships with financial technology companies. Through our partnership, we are working to provide a new and distinct experience to our customers that joins the package of services provided to the company’s individual and corporate customers.” Adding that the new card targets individual customers who are permanent and temporary workers for companies or freelance workers and suppliers, so that it enables them to receive their financial dues and enjoy the card’s services.
In turn, and commenting on the launch of the new card, Eng. Ahmed Nafea, CEO of MDP, said: “We are proud to enable “PayMint” to launch its first prepaid cards, which support the flexibility of daily financial transactions in all their forms within Egypt, relying entirely on our advanced financial technologies that… “This step is in line with the state’s trend in spreading and implementing financial inclusion across the Republic, but is a step towards enabling working individuals to manage their financial resources efficiently and easily, which contributes to achieving their financial stability more effectively.”
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