Agricultural Bank of Egypt installs 750 ATMs in rural areas

This aims to facilitate its customers’ access to all banking services and financial transactions

  
A man wearing protective face mask withdraws money from an ATM at the underground Al Shohadaa "Martyrs" metro station while Egypt ramps up its efforts to slow down the spread of the coronavirus disease (COVID-19) in Cairo, Egypt March 22, 2020.

A man wearing protective face mask withdraws money from an ATM at the underground Al Shohadaa "Martyrs" metro station while Egypt ramps up its efforts to slow down the spread of the coronavirus disease (COVID-19) in Cairo, Egypt March 22, 2020.

Reuters/Mohamed Abd El Ghany

The Agricultural Bank of Egypt (ABE) has completed the installation, during the past three months, of 750 ATMs out of 1,150 new ATMs it plans to install by the end of October 2021.

This is considered a record period compared to the challenges facing the installation and operation of ATMs, especially in villages.

ABE Chairperson Alaa Farouk stated that the bank is working to deploy ATMs across the country, especially in Egypt’s rural areas.

This aims to facilitate its customers’ access to all banking services and financial transactions, whilst facilitating cash withdrawals and deposits.

It takes into account the geographical distribution of these machines across Egypt, giving priority to areas with a high density that lack banking services.

The move to improve access to ATMs comes in line with the Egyptian state’s plans and the directives of the Central Bank of Egypt (CBE).

Farouk pointed out that the ABE gives priority to installing ATMs in villages included in the first phase of the presidential “Decent Life” initiative to develop Egypt’s rural areas.

He explained that all the bank’s ATMs are equipped with the latest technologies to provide a wide range of transactions, self-banking, and financial services. This helps give the bank’s customers the flexibility to conduct many banking operations.

© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services