The Commercial International Bank (CIB) and Abu Dhabi Islamic Bank (ADIB) Egypt participate in financial inclusion activities from 1 to 15 August, offering a range of services tailored for youth in celebration of International Youth Day. This initiative is part of the broader financial inclusion campaign led by the Central Bank of Egypt throughout the year.
The initiative aims to raise awareness among young people about digital literacy, enhance digital financial inclusion, and encourage youth to join the financial sector and benefit from banking products and services. It also seeks to introduce young people to the most suitable banking services and products and promote digital financial services.
CIB’s Offerings:
- “Bdaya”: The savings account can be opened with a national ID, offering an annual interest rate of 6% with monthly returns. The account requires only one Egyptian pound to earn interest, with no minimum balance or account opening fees. Additionally, customers receive a free debit card, though the account is only available to new customers who are Egyptian nationals.
- Meeza Card: It’s available to Egyptian citizens with a valid national ID, without requiring an existing account. The card provides a simple solution for receiving salaries or pensions. It can be used for cash withdrawals from ATMs, deposits and withdrawals at point-of-sale machines, and purchases in stores or online within Egypt. Funds can also be deposited into the card using the Instapay app (IPN).
- Smart Wallet: A digital financial service that allows for a variety of transactions conveniently via mobile phone, with a focus on security. The Smart Wallet enables users to send and receive money, pay bills, top up mobile credit, make donations, shop online, and perform cash withdrawals and deposits. Additionally, users can make purchases by scanning the merchant’s QR code.
ADIB Egypt’s Offerings:
In support of the state’s efforts to achieve financial inclusion, ADIB Egypt has introduced a special package designed to meet the needs of youth, under the auspices of the Central Bank of Egypt.
Account Opening and Debit Cards: ADIB Egypt is offering young people the opportunity to open accounts and issue debit cards through its branches nationwide without account opening fees and minimum balance requirements throughout the event.
- Summer Booths: This year, ADIB Egypt is also offering free account openings during the summer at its booths in Sky Court and Lake Yard in the North Coast, making it easier for youth to open accounts and enjoy the free banking services offered during this period.
- “Xcite” Package: Allows individuals aged 16 to 21 to open an account for free. The package features a competitive expected return and includes a specially designed debit card for the account.
ADIB Egypt’s participation in financial inclusion activities each year reflects its commitment to empowering all segments of society, particularly youth, by providing access to financial products and services that meet their diverse needs. The bank is dedicated to offering a variety of products that cater to all customers, especially youth, who represent the largest demographic in society.
