Arab Finance: Mastercard and Housing and Development Bank (HDB) have formed a strategic partnership to develop the bank’s debit, credit, and commercial card offerings, broadening customers’ access to secure payments and lifestyle benefits, as per an emailed press release.

The collaboration will draw on Mastercard’s technology and global network to support HDB’s expansion in Egypt. Its scope includes premium customer experiences and closer engagement with selected customer segments.

Yehia Aboulfotouh, CEO and Managing Director of HDB, said: “This collaboration reflects our commitment to continuously developing our banking products and services, expanding customer benefits, and delivering a distinctive banking experience. It also supports the sustainable growth of our card portfolio and further strengthens HDB’s position as one of the leading commercial banks in the Egyptian banking market.”

Mohamed Assem, Country Manager for Egypt, Iraq, Lebanon, and Syria at Mastercard, linked the partnership to developments in the country’s wider payments sector, stating: “Egypt's digital economy is moving fast, and collaborations like this one are what keep it moving. By combining Mastercard's global technology and network with HDB's market strength, we're not just enhancing a card portfolio - we're helping shape what the next generation of payments in Egypt looks like."