AOI, ABE sign deal to promote digital transformation

CAIRO - 21 July 2020: The Arab Organization for Industrialization (AOI) and the Agricultural Bank of Egypt (ABE) signed a cooperation deal to promote digital transformation.

During the signing ceremony, AOI Chairman Abdel Moneim al Taras asserted that the AOI is implementing President Abdel Fattah El Sisi's directives to promote digital transformation and electronic mechanization.

The signing ceremony was attended by chairman of the bank's board of directors Alaa Farouk and Advisor to the AOI chairman for Engineering Affairs Alaa Abdel-Aziz Negm.

Taras stressed the importance of cooperation with the ABE, saying cooperation will involve exploiting all the AOI's potentials to implement the digital transformation and electronic mechanization of the Agricultural Bank.

Under the agreement, the organization will supply technical devices needed to equip the bank's buildings and set up various technical networks, such as surveillance networks, perimeter protection systems, anti-theft and fire alarm systems, information networks, TV connectivity and others, the AOI chief added.

For his part, Farouk said that the cooperation protocol falls within the framework of the ABE’s strategy to upgrade its banking services, expand its customer base and enlarge its market share. 

The deal also falls within the comprehensive plan implemented by the bank to upgrade its 1,210 branches nationwide, he added.