08:22 PM – Thursday 18 May 2023
The Industrial Development Bank (IDB) has contracted with PayTabs Egypt for digital technology solutions as a service provider and banking agent on behalf of the bank to reach new customers outside the traditional bank branch network and to provide and provide the bank’s various services and products to financial inclusion customers.
The contract was signed by Ghada Al-Baily, Executive Chairman of the Industrial Development Bank, and Karim Ahab Khaled Ayada, Managing Director of PayTabs Egypt for Technology Solutions, in the presence of work teams from both parties.
The signing of this contract comes within the framework of the Central Bank of Egypt’s initiative to enhance financial inclusion and the Industrial Development Bank (IDB)’s adoption of a plan to create an enabling environment to enhance it by reaching out to different segments of society and providing financial products and services with appropriate quality and cost that meet the needs of all customers.
Ghada Al-Baily said that the contract signed by the Industrial Development Bank with PayTabs Egypt as a banking agent comes in light of the Industrial Development Bank’s adoption of the concept of development, innovation and transformation to the digital economy and facilitating the integration of individuals and institutions into the financial system through banking agents in an effective, safe and appropriate cost and access to a larger A number of clients through alternative channels, which is reflected in raising the quality of service provided and reducing the final cost to clients.
Al-Baily expressed her pleasure in cooperating with PayTabs Egypt for Technology Solutions, which would encourage electronic payment solutions as one of the ways to enhance financial inclusion.
Mina William, Business Development Manager at PayTabs Egypt, said, “I am proud of this partnership with the Industrial Development Bank, which will provide a package of electronic products and services that will help reach financial inclusion and provide various electronic payment methods through an easy and safe platform, in addition to promoting digital transactions.” For individuals and companies to reach their customers and move towards a cashless society in Egypt
It is worth noting that IDB is preparing to offer digital banking solutions such as internet and mobile banking services for its corporate and individual customers to view and implement their banking transactions easily and conveniently, as well as to subscribe to the real-time payments service IPN.