ADIB Proud to Contribute to Financial Inclusion in Egypt
Cairo, 8 May, 2017 – Abu Dhabi Islamic Bank - Egypt (ADIB-Egypt) is proud to support Egyptian government – represented by the Central Bank of Egypt (CBE) – financial inclusion efforts, reaching out to underserved segments of society and allowing them access to all the benefits they can gain by being integrated in the country’s banking system. As part of the Financial Inclusion Week running from 27 April to 4 May, 2017, ADIB-Egypt is offering individuals the opportunity to open accounts free of charge and administrative fees and with no minimum balance requirement throughout the week, at its regular branches as well as via its Microfinance units which have been established across the country including underserved areas, where the bank excels.
“Financial inclusion is a cornerstone of banking sector development in Egypt, ensuring economic and social stability as well as sustainable development. Our focus is on low-income individuals, ensuring their access to banking services as a top priority. We therefore offer a wide and comprehensive range of services such as microfinancing that may lift them out of poverty, helping them better their lives,” ADIB-Egypt’s Head of Consumer Banking said.
36 of ADIB-Egypt’s 70 branches are located outside Cairo and Alexandria, including in underserved areas, to reach a wider segment of society.
ADIB-Egypt seeks to increase awareness of its initiatives and activities targeting all segments of society, using both promotional and educational tools that can attract all ages, realizing that only a better understanding of the potential benefits will encourage more to take the first step towards joining the officially regulated financial and investment systems.
ADIB-Egypt is heavily investing in digital banking in 2017, focusing not only on internet and mobile banking and other services which target all segments of society and facilitate access to banking services, but also on E-wallets which do not require a bank account and can therefore also be used by a lower income bracket and by young people. The bank will be launching a complete digital banking platform this year, offering e-collection, e-payment and other services to benefit segments of society that do not have access to banking service.