07 February 2010
The Cooperative and Agricultural Credit Bank (CAC Bank) is largely seen as a pioneer in the commercial banking sector of Yemen due to its products and services, said Ghassan Abu-Ghanem, manager of CAC Bank, Baghdad St. branch.
He said the CAC Bank is developing new services such as the eye print, which will enable clients to retrieve money from ATM's without the hassle of cards. Such innovation, he feels, sets the technological frame of the bank far ahead of its competitors.
The CAC bank has recently expressed its intention to raise banking awareness among the communities in which it operates. With more then 150,000 employees receiving bi-weekly salaries through CAC Bank ATM's, CAC Bank intends to assist customers receive the most from their experience with the bank.
Ghanem spoke of the recent development of the high level e-banking, allowing clients to access their accounts and transactions at any time with the assistance of an Internet connection. CAC Bank international e-banking is expected to be the first such system in Yemen, bringing the banking sector in line with several other advanced banks within the Middle East. It is hoped that such technological improvements will generate different functionality related to banking services, high technology and security. Ghanem reported that CAC Bank occupied the first rank in the financing and economic sectors during 2008, according to a report issued by the Central Bank of Yemen, achieving the growth rate of 46.5% and contributed to the financing of the economic sector by 35.6%.
The Cooperative and Agricultural Credit Bank (CAC Bank) is largely seen as a pioneer in the commercial banking sector of Yemen due to its products and services, said Ghassan Abu-Ghanem, manager of CAC Bank, Baghdad St. branch.
He said the CAC Bank is developing new services such as the eye print, which will enable clients to retrieve money from ATM's without the hassle of cards. Such innovation, he feels, sets the technological frame of the bank far ahead of its competitors.
The CAC bank has recently expressed its intention to raise banking awareness among the communities in which it operates. With more then 150,000 employees receiving bi-weekly salaries through CAC Bank ATM's, CAC Bank intends to assist customers receive the most from their experience with the bank.
Ghanem spoke of the recent development of the high level e-banking, allowing clients to access their accounts and transactions at any time with the assistance of an Internet connection. CAC Bank international e-banking is expected to be the first such system in Yemen, bringing the banking sector in line with several other advanced banks within the Middle East. It is hoped that such technological improvements will generate different functionality related to banking services, high technology and security. Ghanem reported that CAC Bank occupied the first rank in the financing and economic sectors during 2008, according to a report issued by the Central Bank of Yemen, achieving the growth rate of 46.5% and contributed to the financing of the economic sector by 35.6%.
By Observer Staff
© Yemen Observer 2010
