News

March 30, 2023

Egyptian Banks Company “EBC” and the Egyptian Banking Institute “EBI” inked a Memorandum of Understanding “MOU” to provide specialized training programs for the payments ecosystem served by EBC.

The signing ceremony was attended by senior officials representing both companies. Commenting on the agreement, Mr. Tarek Raouf, EBC’s Managing Director and CEO said “Our strategic partnership with EBI, under the umbrella of the CBE, underlies tremendous synergies which we will capitalize on to deliver a unique development experience to members of the national payment schemes. Joining our forces, we...

October 31, 2022

Egyptian Banks Company (EBC) and the Arab Regional Payments Clearing And Settlement Organization (ARPCSO) Sign Memorandum Of Understanding (MoU) To Facilitate Cross-Border Payments Via Buna And Instant Payment Network (IPN)

Abu Dhabi, 27 October 2022: In a ceremony hosted by the Arab Monetary Fund, Mr. Tarek Raouf, Chief Executive Officer of Egyptian Banks Co. for Technological Advancement (EBC), and Mr. Mehdi Manaa, CEO of Buna, the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”, signed today a Memorandum of Understanding (MoU) putting in...

March 22, 2022

EBC announces its investment contribution in Egypt’s first Fintech Innovation Fund, led by State Banks for 85 million – جريده المال

Egypt’s largest national banks, Banque Misr, National Banque of Egypt, Banque Du Caire, and Global Ventures, a leading MEA-focused venture Capital, announced yesterday the launch of “Nclude” fund. EBC’s contribution in Nclude Fund comes in line with its strategic emphasis on accelerating the adoption of e-payments via supporting innovation and youth’s entrepreneurship. The fund has already made its first investments...

November 26, 2020

Awareness Program of Meeza Government Payroll Migration Project

Under the supervision of the Central Bank of Egypt “CBE” and in collaboration with the Ministry of Finance “MOF”, EBC has engaged with MOF front line staff in a training program on the flip over of the government payroll cards to “Meeza” smart cards. The program involved several seminars held across cities: Cairo, Alexandria, Ismailia and Assiut.

September 17, 2020

EBC Signs Cooperation Protocol with NBK

Yesterday marked the signing ceremony of a cooperation protocol between EBC and National Bank of Kuwait to expand in electronic payment channels including Meeza prepaid payroll cards. Tarek Raouf, EBC’s Executive Chairman and Managing Director commented, “The joining NBK to Meeza Issuer banks marks an important milestone for the scheme. In addition, the collaboration between EBC and NBK shall offer...

August 5, 2019

EALB, Egyptian Banks Company Sign Protocol to Issue Meeza Card

The Egyptian Arab Land Bank (EALB) and the Egyptian Banks Company signed a cooperation protocol under which the bank joins Meeza issuing banks. The protocol was signed by Chairpman of EALB, Amr Kamal, and the EBC’s Executive Chairman and Managing Director Tarek Raouf. Kamel commented that the signing of this protocol comes in line with the bank’s strategy to expand...

August 3, 2015

VISA and EBC Have Signed a Strategic Partnership Agreement

A strategic partnership agreement was signed between Visa and Egyptian Banks Company (EBC) with a strategic focus on promoting financial inclusion efforts and supporting the government's electronic payments initiatives in Egypt as well as in Africa. The agreement shall allow banks in Egypt to route domestic ATM transactions on Visa debit and government prepaid products via EBC's local switch. EBC...

August 2, 2015

Launching the Bread Subsidy Disbursement through EG-ACH

EBC and the General Authority For Supply and Commodities have launched the bready subsidy disbursement through EG-ACH as a part from the governmental national directive to enhance the subsidy distribution to introduce more beneficial services to the Egyptian consumer. The project aims to transform the subsidy model in Egypt from subsidizing the goods itself to subsidizing the consumer based on...

July 1, 2015

New Premises

With great pleasure, EBC has announced that daily business will be operated from its new premises in 5th settlement on the 1st of July, 2015. Relocation of the company premises comes as a strategic move to accommodate with the accelerated growth in business operations and the planned expansion in EBC organization.

January 4, 2015

Pension Pilot Enrollment

EBC in cooperation with National Authority for Social Security has launched the new pension distribution service through EG-ACH allowing beneficiaries in Egypt to receive their social benefits electronically through their bank account, this important milestone will avail the banking service to around 1.3 beneficiaries.

January 3, 2015

Launching Telecom Egypt Bill Payment Collection Service

EBC announced the participation of Telecom Egypt in the Direct Debit service to introduce bill payment service to their banked customers by leveraging the EG-ACH infrastructure to collect the due invoices from the participated customer’s bank account. This service will allow Telecom Egypt customers in all banks in Egypt to periodically pay their bills automatically once issued through the Direct...

December 25, 2012

Acceptance of Discover Cards through 123 Network

As per Egyptian Banks Company for Technological Advanced (EBC) supervision in expanding the 123 network by linking with regional and international networks, EBC has signed an agreement with Discover network to accept their cards on 123 network for cash withdrawal and balance inquiry. Discover network is considered as the third largest issuer of plastic cards in the United States of...

October 10, 2012

123 is in the Final Stage to Finalize the Agreement with JCB

As per Egyptian Banks Company for Technological Advanced (EBC) supervision in expanding the 123 network by linking with regional and international networks, EBC is going to sign an agreement with the Japan Credit Bureau (JCB) to accept their cards through 123 network.

September 25, 2012

CBE has Activated the Direct Credit Service

Within Central Bank of Egypt (CBE) effort to develop payment systems in Egypt, CBE has assigned Egyptian Banks Company for Technological Advancement (EBC) with the development of the Automated Clearing House (EG-ACH) system for Bulk small value payments, CBE has finalized the implementation of the interface with EG-ACH in order to be ready to receive Direct Credit transactions from EG-ACH...

September 16, 2012

EBC Launch the Direct Debit Service through EG-ACH

Egyptian Banks Company (EBC) has launched the second phase of the Automated Clearing-House (EG-ACH) project which is the Direct Debit service, Direct Debit is used throughout the world and is acknowledged as one of the most cost effective and efficient methods of processing regular and periodic payments as it allow bank’s customer to pay his bills after authorizing his bank...

February 21, 2012

EBC Has Launched the Direct Debit Service

EBC has launched the new Direct Debit service in a huge event in the presence of all banks in Egypt in addition to a representative of the Central Banks of Egypt. Direct Debit is a quick, easy and convenient method of making regular payments (e.g. bills, installments, subscriptions, etc…) without having to visit a bank. Direct Debit is used throughout...

December 19, 2010

EBC Conduct a Press Conference for Corporates Bulk Payment Through EG-ACH Direct Credit

EBC conduct a Press Conference for corporates bulk payment through EG-ACH Direct Credit. Press release article for this topic is available in Arabic only, click here to review the Arabic version.

February 2, 2010

“China Union Pay” Acceptance Agreement Has Been Signed with 123 Network

"China Union Pay" Acceptance agreement has been signed with 123 Network. Press release article for this topic is available in Arabic only, click here to review the Arabic version.