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Arab Investment Bank completes development of technological infrastructure and application of new banking system T24

Omayma Farahat, Chairman and Managing Director of Arab Investment Bank, stated that the strategy of the bank during this period is based on digital banking and digital services that will make the electronic conduction of financial and banking operations much better, easier, and faster. This comes within the strategy of our country to attract a lot of investments, to promote growth, and to enhance the banking sector’s development. In addition, the transformation of the digital system in the field of payments and various financial transactions, comes within the policies of financial inclusion.


Within the framework of digital transformation policies, the bank has developed the technological infrastructure and has implemented the new banking system, T24, introduced by Temenos Global Company, which is a major and advanced achievement of Core Banking System which will provide the Bank with a distinctive and diverse range of banking services (Digital Platform, Application interferences). This provides the bank's customers, whether individuals or companies, the latest global banking system of electronic banking services in accordance with the latest international standards, where the banking system, referred to above, is applied in more than 3,000 banks worldwide, including more than seven banks in Egypt in addition to others that are still in application.


Omayma Farhat added that in the light of the bank's continuous efforts to develop banking services and transactions for customers, the bank has developed new banking products in line with the requirements of the banking market. It is worth mentioning that recently launched the product "dollar deposit, with the highest annual return 3% prepaid", which offers Customers having the advantage of getting a return in advance once the deposit is opened and can be borrowed by guarantee. This is in addition to the launch of a new product "12% interest per day" the highest current account revenue is added daily. She explained that the bank is providing a variety of electronic payment services to facilitate daily financial transactions of customer internet banking in addition to Mobile Banking which includes all banking services, whether payment or collection in addition to the continuous development of a professional contact center for customer service 24 hours.


Omayma Farhat praised the direction of the government to reduce the cash deal in all their dealings, saying that the trend is in support of financial inclusion including support against any administrative corruption or anti-money laundering operations, which is reflected on the improvement of the Egyptian economy.

Dated on 2019/9/15