Cairo – Mubasher: The Agricultural Bank of Egypt (ABE) is looking to issue cards for three million clients in collaboration with the US financial services company Visa Inc, the bank's vice chairman said on Sunday.
The Egyptian lender is planning to launch various electronic products, including credit cards and smart wallets to digitalise payments and reduce cash transactions, Tamer Gomaa added in a press release.
The bank has considered several experiences and external models and asked for London-based Ernst & Young’s help regarding the matter, he highlighted.
The head of the SMEs department at ABE Hussien Abdulbaset told Mubasher last week that his bank dedicated finances of EGP 500 million for the veal project, as well as pumped EGP 430 million last year for 3,000 clients as part of the Central Bank of Egypt’s (CBE) initiative for fattening veal.
