Ministry of Communications and Information Technology
3 March 2015
ICT Minister Meets with MasterCard CEO to Discuss Financial Integration

The ICT Minister Atef Helmy has met with the Chief Executive Officer of MasterCard Ajay Banga where they discussed procedures to provide citizens with integrated financial services using mobile phones to enable them from safely using financial services through technology solutions by means of linking them to national IDs, in coordination with the Ministry of Finance and the Central Bank of Egypt.

A Memorandum of Understanding was signed last February between the Ministry of Communications and Information Technology (MCIT) and MasterCard that aims to support modern e-transaction system in Egypt by means of accessing non-monetary transactions through mobile phones or electronic cards to achieve maximum government efficiency as well as saving money. Helmy has said that adopting financial integration policies promote exerted effort to enable citizens to use e-payment tools.

The ICT minister has added that it was agreed to establish an innovation center in Cairo, in partnership of both parties, to benefit of MasterCard latest technologies and make them available in the market.

For his part, Banga has said that financial integration is a key pillar to achieve economic development. This is in addition to its significant role in realizing transparency and enhancing government service efficiency. He has added that he is proud to announce partnership with the Egyptian government.

Furthermore, Helmy has met with Emirates Chief Executive Officer of Etisalat Group Ahmad Abdulkarim Julfar where they discussed means of promoting the group’s investment in Egypt’s market and prospects of taking part in projects proposed by Egypt’s ICT sector.

The encounters are in the context of a series of meetings conducted by the ICT minister, during Mobile World Congress held in Barcelona on 2-5 March, to promote prospects of foreign investment in Egypt and keep up with latest mobile technologies and industries related to serving the ICT sector.

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