Cairo: Dr. Abdel Aziz Nossier, Executive Director of the Egyptian Banking Institute (EBI), the official training arm of the Central Bank of Egypt and Eng. Tarek Raouf Fayek, Managing Director and CEO of Egyptian Banks Company (EBC), the advanced payments network and domestic operator connecting consumers, businesses, merchants, and financial institutions, signed a memorandum of understanding to provide specialized training programs for the national payment ecosystem whose services are provided by EBC to offer a seamless interoperable payment experience. The ceremony has been attended by senior officials representing both companies.

The MOU comes in line with the strategic cooperation between EBI and EBC, with the purpose of providing training programs for member banks and financial institutions of the national payment ecosystem, where EBC will contribute specialized and technical material design whilst EBI will offer qualified trainers to conduct these training programs.

In this context, Dr. Nossier expressed his happiness saying; “Our partnership with Egyptian Banks Company is a step forward to support the financial technology sector by qualifying promising young cadres in this sector and supporting innovation in digital banking and financial services to contribute to providing a stimulating environment for the financial technology industry in Egypt.”

Speaking at the signing ceremony, Eng. Tarek Raouf said: “The joint cooperation between Egyptian Banks Company and the Egyptian Banking Institute represents a strategic partnership based on the mutual vision and objectives to support the financial technology sector, and we look forward to contributing to the development of the human capital for the banking sector and electronic payments ecosystem through the integration of technical expertise and the specialized capabilities of the Egyptian Banking Institute in the fields of training and development.”

It is worth mentioning that signing this MOU aligns with EBI’s and EBC’s strategy to develop the electronic payments market and keep abreast of global developments in this field as well as developing the capabilities of its employees. This step is a continuation of the efforts of the EBI to establish fruitful partnerships that will reflect positively on all segments of society.


About EBI

The Egyptian Banking Institute (EBI) was established in 1991 by the Central Bank of Egypt (CBE) to act as its official training arm with a vision to be the preferred partner for developing the human capital of the banking ecosystem in Egypt, and the lighthouse for banking sector development across strategic African and Arab countries, through mirroring the latest international banking trends.

The unique blend of the Board of Directors, headed by the Governor of the Central Bank of Egypt, H.E. Mr. Hassan Abdallah, sets EBI in a leading position. EBI’s Board is composed of 8 members consisting of bank’s chairmen and industry leaders possessing a high-level of diversified expertise.

Crowning the continuous organizational commitment for quality training and adherence to international quality standards, in 2009 EBI was the first accredited financial training institute in Egypt and the MENA region by the Accrediting Council for Continuing Education and Training (ACCET) for five years. EBI succeeded in obtaining reaccreditation for 2 more terms ending in 2024. In addition to this, EBI’s Interactive Distance Learning (IDL) instructional methodology and e-learning programs has been also accredited by ACCET in 2021.

In 2021 EBI has been chosen as the “Best Financial Training Institute in MENA Region” by Capital Finance International (CFI) for its commitment to offering state-of-the-art quality training solutions and adherence to international quality standards; keeping in line with the latest industry international best practices & amplifying EBI’s activities to support African banking sector human capital development. CFI is a print journal and online resource reporting on business, economics, and finance headquartered in London. In 2022, EBI has been awarded the “Best Companies Award” at the Education 2.0 Conference as part of its prominent role in the field of financial and banking training for reforming and improving global education. The award’s selection criteria included meeting Industry Reputation, Innovation in Education and Training Methods, Financial Status, Competitiveness, and Management Strength. EBI has also been awarded the “Best Financial Training Service Company” by International Finance at the 10th Annual International Finance Awards as an acknowledgment of EBI’s corporate excellence & contribution to the development of the human capital of the banking ecosystem in Egypt & Africa through offering state-of-the-art quality training solutions, in addition to its commitment to recognizing industry talent & leadership skills. EBI continues to develop its training programs to stay abreast with the technological and training trends to support the development of human capital in the banking sector in Egypt and in Africa.

With a mandate to develop the human capital in the banking sector, EBI excels in providing state-of-the-art training solutions in line with the latest industry international best practices in areas of banking, management, leadership, information technology, and SMEs. In 2015, EBI expanded its offerings by launching a diversified portfolio of Assessment services and partnering with leading international providers, with a goal of availing various assessment tools for the purpose of recruitment, promotion, or development. EBI also provides a wide range of diversified activities and services to disseminate knowledge and raise awareness on the latest industry trends.

EBI takes pride in its continuous efforts to amplify its activities across the African continent with a goal to support the African banking sector human capital development. Under the auspices of the Central Bank of Egypt, EBI provided its training services in 44 countries with more than 4000 African trainees and takes pride in its partnership with leading African banking institutes to enhance knowledge sharing across the continent.

As a community responsible institution, EBI’s CSR activities evolved throughout the years focusing on financial literacy and supporting people with special needs. Shaping the Future initiative was launched in 2012, under the auspices of the Central Bank of Egypt to spread financial awareness and enhance people’s capability to manage their finances, understand and use different financial services and thereby contribute to financial inclusion. In 2020 Basira initiative was launched to facilitate the studying process for visually impaired students. In 2021 EBI launched Etaha initiative to support creating a diversified working environment and act as a link between people with special needs searching for job opportunities and the banking sector.

About Egyptian Banks Company

Egyptian Banks Company for Technological Advancement “EBC” is the advanced payments network and domestic operator in Egypt. Serving as the technological arm of the Central Bank of Egypt, EBC leverages its state-of-the-art infrastructure and intellectual capital to modernize electronic payment networks, support economy digitization and fosters the transformation into a less cash society. EBC connects consumers, businesses, merchants, financial institutions and the Egyptian state via a seamless interoperable payment experience.

EBC operates, secures and constantly modernizes Egypt’s domestic payment schemes, including “123 Shared Cash Networks” connecting all ATM’s across Egypt and accepting all types of payment cards, and the Automated Clearing House “EG-ACH” which serves as the backbone for state electronic payment in Egypt supporting government payments and collection. Meeza Digital Network is the third payment network launched back in 2017 supporting interoperability of mobile wallets now exceeding 30 million across Egypt. In 2018, EBC launched Egypt’s domestic payment card scheme “Meeza”, now surpassing 32 million cards in the market.

In 2021, the Central Bank of Egypt entrusted EBC with developing and operating the Instant Payment Network which enables consumers to transfer money instantly, 24/7, using the mobile application “Instapay”. Launched in March 2022, the Instant Payment Network and InstaPay application mark the commencement of a new era in the electronic payment ecosystem, empowering innovation through open banking and enabling integration with fintechs in order to offer the end user endless possibilities.   

For the past 27 years, EBC has succeeded in building a leading national entity, positioned at the heart of the payments ecosystem and has played a pivotal role in the operation of domestic payment schemes. EBC supports the Egyptian government’s vision of a digital economy and makes it its duty to continue enabling seamless fund transfers.