Cairo – The Central Bank of Egypt (CBE) has approved for Banque du Caire to launch the Telda prepaid card, Ahram Gate reported.

Tarek Fayed, Chairman and CEO of Banque du Caire, noted that this step comes in line with the bank’s objective to offer digital banking solutions, including payment services, e-shopping, and others.

Fayed added that the Egyptian lender aims to achieve financial inclusion and encourage people to use fintech services in a safe way.

Meanwhile, Mohamed Tharwat, Head of Retail Banking and Microfinance at Banque du Caire, pointed out that clients will be able to use the new card by linking it to the Telda digital platform.

In the first quarter (Q1) of 2022, the lender recorded standalone net profits exceeding EGP 800 million. Banque du Caire registered EGP 3.50 billion in total operating revenue during Q1-22, an annual jump of 14% from EGP 3.10 billion.

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