Mastercard and Arab African International Bank enter into a long-term strategic partnership

  • The partnership will drive AAIB’s digital transformation strategy and focus on delivering industry-leading payment solutions that meet growing consumer demand for convenient and secure digital payment methods.

Cairo, Egypt – As part of its efforts to accelerate the digital transformation of the Egyptian financial ecosystem, Mastercard has announced a long-term strategic partnership with the Arab African International Bank (AAIB).

Through this partnership, Mastercard and AAIB will focus on planning and executing AAIB’s digital transformation strategy as well as delivering industry-leading payment solutions that meet growing consumer demand for convenient and secure digital payments.

The signing ceremony took place in the presence of Haytham El Maayergi, AMD- Group Chief Operating & Transformation Officer at AAIB; Dina Zikry, Head of Consumer Banking and Financial Inclusion at AAIB; Khalid Elgibali, president of the Middle East and North Africa division at Mastercard; Adam Jones, Country Managing Director, MENA Central at Mastercard; and other personalities from both parties.

“Our long-term partnership with Mastercard will allow us to bring innovative payment solutions to more customers across Egypt,” said Haytham El Maayergi, Chief Operating Officer and Transformation of AMD Group at AAIB. “This agreement reflects our strategy and commitment to developing products and solutions that meet the diverse needs of our customers. Through Mastercard’s core expertise and product innovation, we will be able to diversify our portfolio, expand our reach and further enhance our product features and privileges,” added Haytham.

Khalid Elgibali, President of the Middle East and North Africa Division at Mastercard, said, “We are delighted to be the partner of choice for the AAIB in its future focused journey. As a global technology leader, Mastercard is committed to providing financial institutions with innovative payment solutions that accelerate digital growth and create meaningful customer experiences. Our long-standing collaboration with the AAIB builds on Mastercard’s commitment to driving sustainable growth, building cashless societies, and creating a bright, inclusive future for all.

“Our partnership with Mastercard provides the bank with the opportunity to launch new technological and advanced products in line with the needs of today’s banking market,” said Dina Zikry, Head of Consumer Banking and Financial Inclusion. “Our collaboration is a positive step in the Arab African International Bank‘s strategy to achieve digital transformation and provide services tailored to different types of customers. Diversity, expansion and development are the characteristics and advantages of our banking services, which contribute to the satisfaction of our customers,” added Dina.

Adam Jones, Country General Manager, MENA Central, Mastercard, said, “Egypt is rapidly embracing digital payments and we believe effective collaborations are key to driving financial inclusion and payment innovation. We are delighted to partner with AAIB on this historic agreement and to provide the bank with the solutions needed to best meet the changing expectations of its customers.

Mastercard leverages its extensive expertise to support digital transformation, drive financial inclusion, and encourage the transition to an inclusive digital economy in Egypt. These efforts are part of Mastercard’s global commitment to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025, with a direct focus on providing 25 million women entrepreneurs with solutions that can help them grow their businesses.

It is worth mentioning that the AAIB has moved forward with its 2021-2025 strategy, launching several integrated specialized departments and teams that focus on digital transformation and various other projects. Pioneering, AAIB was one of the first banks to establish the “Digital Factory”, a new operating model offering faster and better services and products to its customers, in addition to the launch of WhatsApp and banking services by telephone.

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About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections in more than 210 countries and territories, we are building a sustainable world that unlocks invaluable opportunity for all.

About the AAIB

Arab African International Bank has continued with its 2021-2025 strategy, where it has achieved the launch of digital transformation teams from each department that work in an integrated manner to carry out various projects in a professional manner, as it has been one of the first banks to establish a Digital Factory and Which is a new model to work efficiently in order to provide the best products and services to its customers, in addition to launching the WhatsApp service and the mobile banking application which have been entirely designed in-house thanks to the best calibers and expertise of the bank.

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