Abu Dhabi Islamic Bank Egypt (ADIB) has unveiled plans to invest around EGP 1 billion in technology and digital transformation, with a particular focus on enhancing cybersecurity. This announcement was made during the bank’s participation in the 28th Cairo ICT Exhibition, held from November 17 to 20, under the theme “The Next Wave.” The event explored future technologies across various industries and sectors.
ADIB showcased its latest digital banking innovations at the exhibition, alongside its subsidiaries, offering a range of services and products aligned with Islamic Sharia principles. These offerings highlighted the bank’s continued progress in embracing digital transformation.
Mohamed Ali, CEO and Managing Director of ADIB Egypt, emphasized the significance of the bank’s participation in Cairo ICT, describing it as a premier event for the technology sector in Egypt, the Middle East, and Africa. He highlighted the exhibition’s role as an ideal platform for showcasing the bank’s diverse range of Sharia-compliant products and services. Ali further reaffirmed the bank’s commitment to growth and innovation, aligning with the Egyptian state’s vision and the directives of the Central Bank of Egypt (CBE).
The bank’s subsidiaries also made their mark at the exhibition. The Abu Dhabi Islamic Bank Consumer Finance Company introduced its mobile app “Taka,” Egypt’s first Islamic Sharia-compliant consumer finance app, which offers prepaid card support for seamless customer onboarding. Additionally, Arzaq, the bank’s microfinance subsidiary, participated to highlight its role in supporting micro-businesses.
In a significant move, Arzaq signed a strategic partnership agreement with Damen and OPay, two electronic payment companies, to facilitate the collection of financing installments across Egypt’s governorates. This initiative aims to enhance customer convenience by providing more efficient and accessible services.
