WE, Egypt’s leading telecommunications and IT services provider, has entered into a strategic partnership with the Commercial International Bank (CIB), the country’s largest private-sector bank. The collaboration, formalized through a memorandum of understanding, aims to transform how WE customers access financial services across Egypt.
CIB will develop tailored financial products for WE customers, integrating the latest digital models within the Banking-as-a-Service framework. This partnership leverages WE’s vast infrastructure, which includes extensive distribution channels and a strong presence nationwide, enabling them to serve millions of customers effectively.
The initiative seeks to enhance financial inclusion by promoting financial literacy, reducing cash reliance, and incorporating the informal economy into the formal financial sector. It aligns with Egypt’s digital transformation goals, allowing customers to access banking services seamlessly within WE’s existing digital ecosystem.
Both companies emphasize customer-centric innovation and aim to create significant value while contributing to broader social goals. Mohamed Nasr, CEO of WE, highlighted that the partnership would simplify daily life for Egyptians by offering integrated digital financial services. Rashwan Hammadi, CEO of Retail, SME, and Financial Inclusion at CIB, stressed the role of technology and strategic partnerships in enhancing access to financial services.
The partnership sets a new benchmark for collaboration between the banking sector and the telecommunications and IT industries, supporting Egypt’s broader economic and digital goals.
