Telecom Egypt (TE)(ETAL-CA) has contracted with the Commercial International Bank(CIB) in order to provide electronic interconnection to the bank’s data center services.
It is expected that TE will contract the agreement by the end of the current week, with the presence of CEO of TE, Mohamed Al-Nawawi and Hisham Ezz Al-Arab, the Chairman and the Managing director of CIB.
Al-Nawawi asserted that the partnership with the financial institutions will contribute in long-term economic development through the development of the banking business and thus the provided services to customers will be developed and activate better services.
Al-Nawawi added that TE will be seeking to serve all the major institutions that affect economic development in general during the next phase.
TE signed an agreement with the National Bank of Egypt (NBE) to modernize the bank’s information network by using network based on fiber optic technology valued at EGP90 million against getting service for of 5 years.