SAIB Eyes to Apply Internet Banking Service this Year

Société Arabe Internationale de Banque (SAIB) is aiming applying Internet Banking service for the customers within the current year.

An official banking source said SAIB is currently working to set up a necessary technological infrastructure so as to launch the service within 2014, noting that the new service will make the customers conduct all the baking operations through the internet anywhere.

He has told Amwal Al Ghad Arabic’s Website that the bank applies additional service and Automated Clearing House(ACH) system which managed by Egyptian Banks Company (EBC), but the bank is targeting to update SAIB’s technological infrastructure in order to be fully electronic instead of Manual so as to improve the submitted service.

Mohamed Kamel Bayoumi. Managing Director and Director of EBC illustrated that the numbers of banks that apply transmitter & receiver services through ACH became 9 banks in addition to 4 banks apply  receiver services only and 6 banks in the testing phase to apply new services.

Meanwhile, EBC was established in partnership between the Central Bank of Egypt (CBE) ,Ministry of Finance and a number of Egyptian banks to work on reducing the reliance on Cash and monetary  transactions, whether for individuals or institutions, aware them regarding  the importance of using of electronic payments.