Egypt - The Central Bank of Egypt (CBE) granted preliminary approval to Abu Dhabi Islamic Bank Egypt (ADIB) to launch Takka prepaid cards in cooperation with its consumer financing arm ADI-CF and Meeza, according to an email statement on November 24th.

CEO and Managing Director of ADIB Egypt Mohamed Aly said that obtaining the CBE’s approval for Takka cards reflects the trust in the bank and ADI-CF in the Egyptian market.

Moreover, Yasmin Helal, CEO of ADI-CF, noted that Takka's new application would satisfy the needs of consumers and promote financial inclusion, adding that the application is user-friendly.

For his part, Chief Commercial and Product Officer at ADI-CF Ahmed Refaat revealed that the application would enable customers to buy in cash or in installments through the company’s 800,000 point-of-sale (POS) machines in Egypt.

ADIB is an Egypt-based public shareholding company that provides retail, corporate, and investment banking services through a network of 69 branches across Egypt.

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