ISYS Kuwait’s Business Volume to Surge to US$1 bln in 5 Years
Managing Director and CEO of ISYS Kuwait Group Eng. Mohamed Al Rasheedy revealed that his company is planning to cooperate with the National Bank of Egypt (NBE) and the Central Bank of Egypt (CBE) within the upcoming period in order to provide electronic payment and the provision of Financial Inclusion Services.
Al Rasheedy rejected to disclose any details regarding the cooperation until the negotiations will be completed, stressing on the negotiations’ success to establish electronic link network of payment services as well as Keeping pace with the global development of data services.
ISYS has previously inked cooperation protocol with Arab African International Bank (AAIB), however, it did not announce for an actual services in the framework of the agreement signed last year, Al Rasheedy explained.
The company’s commitment to cooperate with the Egyptian government as well as the cooperation with Information and Communication Technology Ministry to make the best use of the government’s subsidiary, he asserted.
ISYS met Eng. Atef Helmy Egyptian Information and Communication Technology Minister who requested to develop the company’s strategy and to increase its investments in Egypt, in addition to taking the advantage of extensive expertise in the field of communications and updating it into the sector.
The company’s profits rose by 12.5% during the second quarter and in compared to the first quarter’s profits in addition to ISYS’s business volume surged to US$200 million, stressing that the company’s plan is aiming to raise the business volume to nearly US$1 billion in 5 years, Al Rasheedy explained.
It is worthy to mention that ISYS started its business in 2005 as was recognized by the Kuwaiti Communication Group “Zain” as a key partner having provided valuable services for chatting and SMS services and other interactive services. In 2006, ISYS expanded its activity moving to other countries as started in Sudan with Mobitel providing “Taiba” SMS and support services to AFP French Agency in many fields including news shot messages. From 2007 – 2013, the Company activity extended to many countries where it opened offices in Bahrain, Egypt, Uganda, Kenya, South Sudan, Palestine, Jordan, Nigeria, Libya and USA.
