The Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) announced that it is forming a tri-party collaboration with start-up Khazna and Masria Digital Payments (MDP), a leading end-to-end e-payment solutions provider.
The collaboration will see the launch of a Sharia-compliant Meeza pre-paid cobranded card, called the ADIB-Khazna Meeza. The new card will extend mobile financial services to the underserved and unbanked segments of Egyptian society.
Mohamed Aly, CEO and Managing Director of ADIB-Egypt, said, “We are pleased to be able to expand our portfolio of financial solutions with a product that addresses the needs of Egypt’s unbanked community.”
“Over the past few years, we have worked tirelessly to deliver on our vision of providing innovative payment solutions that support the CBE’s long-term strategy to move towards a cashless society,” he added.
Omar Saleh, CEO of Khazna, said, “We are excited about our partnership with ADIB to launch the Khazna Card to enhance our offering to our target segment of under- and unbanked Egyptians.”
