{"id":325304,"date":"2022-04-29T15:44:36","date_gmt":"2022-04-29T15:44:36","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325304"},"modified":"2022-04-29T15:44:36","modified_gmt":"2022-04-29T15:44:36","slug":"khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/04\/29\/khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib\/","title":{"rendered":"\u2018Khazna\u2019 obtains CBE\u2019s approval to launch prepaid card in partnership with ADIB"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Khazna, a fintech company, has announced that it has received the Central Bank of Egypt\u2019s (CBE) approval to launch its prepaid card in cooperation with Abu Dhabi Islamic Bank \u2013 Egypt (ADIB).<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Khazna Card will bear the logo of the National Payments Network \u201cMeeza\u201d, as part of CBE\u2019s strategy to transform towards a cashless society and enhance financial inclusion. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Khazna card allows money withdrawal and deposit, online payment, and payroll.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Mohamed Ali, CEO and Managing Director of ADIB \u2013 Egypt, expressed his happiness with obtaining the approval of the CBE to launch \u201cKhazna Card\u201d, which could lead to a leap in the financial technology market in Egypt.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He added that this partnership reinforces the bank\u2019s expansion strategy in the Egyptian market as a comprehensive global bank. The bank is witnessing developments in all sectors, the most important of which is the retail banking sector to lead the Egyptian market with smart digital banking solutions and a product that addresses the needs of Egyptians outside the banking system.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Ahmed Effat, Head of the Retail Banking Sector at ADIB \u2013 Egypt, said that the partnership with Khazna was the first of its kind in the Egyptian market to keep pace with the market demand.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cWe seek to provide advanced digital payment solutions with ease and security to reduce cash dealing, in an effort to facilitate dealing with electronic means provided by the bank. This aims to improve customer service and reach the largest number of customers, especially those who do not deal with the banking system\u201d, he added.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Omar Saleh, CEO of Khazna, expressed his happiness in partnering with ADIB \u2013 Egypt to launch the Khazna card to develop the company\u2019s services for the target groups.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He explained that by using the Khazna card, users can receive wages in real time in addition to other financial services in an easy and digital way through the application, and these services reflect the efforts made by CBE to transform towards a digital society and enhance financial inclusion in an unprecedented way.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Khazna recently announced that it has secured $38m funding in its Series A investment round, led by Kona Capital, one of the largest investment funds in fintech startups, in partnership with Lendable. \u201cNclude\u201d, Speed, Algebra Venture, Accion Venture Lab, Disruptech, Khwarizmi Ventures, Arab Bank, C Ventures and others took part in the funding. The total investment in the company reached $47m since its inception in 2020.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Khazna, a fintech company, has announced that it has received the Central Bank of Egypt\u2019s (CBE) approval to launch its prepaid card in cooperation with Abu Dhabi Islamic Bank \u2013 Egypt (ADIB). Khazna Card will bear the logo of the National Payments Network \u201cMeeza\u201d, as part of CBE\u2019s strategy to transform towards a cashless society [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":325305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[316],"class_list":["post-325304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-adib"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Khazna\u2019 obtains CBE\u2019s approval to launch prepaid card in partnership with ADIB - egy-africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/04\/29\/khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Khazna\u2019 obtains CBE\u2019s approval to launch prepaid card in partnership with ADIB - egy-africa\" \/>\n<meta property=\"og:description\" content=\"Khazna, a fintech company, has announced that it has received the Central Bank of Egypt\u2019s (CBE) approval to launch its prepaid card in cooperation with Abu Dhabi Islamic Bank \u2013 Egypt (ADIB). Khazna Card will bear the logo of the National Payments Network \u201cMeeza\u201d, as part of CBE\u2019s strategy to transform towards a cashless society [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2022\/04\/29\/khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-29T15:44:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2022\/04\/IMG-20220427-WA0021-768x430-1.jpg?fit=768%2C430&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/04\/29\/khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2022\/04\/29\/khazna-obtains-cbes-approval-to-launch-prepaid-card-in-partnership-with-adib\/\",\"name\":\"\u2018Khazna\u2019 obtains CBE\u2019s approval to launch prepaid card in partnership with ADIB - 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