Mashreq Bank Egypt partners with EgyCash

Under this cooperation deal, the bank will be able to capitalize on international standards for money transfer

  
ArabFinance: Mashreq Bank Egypt signed a partnership agreement with EgyCash, a firm incorporated by the Central Bank of Egypt (CBE), according to a November 27thstatement.

Under this cooperation deal, the bank will be able to capitalize on international standards for money transfer to boost its cash management value proposition.

Mashreq Bank aims to “improve turnaround time and reconciliation cycle along with guaranteeing a wider coverage throughout Egypt, using the most secured and effective solutions,” the bank noted.

EgyCash focuses on cash management services such as interbank cash movement, ATM replenishment, and fund collection from corporate customers.

The CBE reportedly established the cash management arm last October.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. 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