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CIB, Visa ink new 5-term commercial deal

CIB, Visa ink new 5-term commercial deal

ArabFinance: The Commercial International Bank Egypt (CIB) (COMI) announced it has signed a five-term commercial agreement with the multinational financial services cooperation Visa Inc., Al Mal Newspaper reported.

Under this agreement, both CIB and Visa aim to achieve their strategic goals in supporting Egypt’s strategy to assist the small- and medium-sized enterprises (SMEs).

This agreement will contribute to the growth of SMEs through the new platforms and solutions that Visa offers such as simple payment plans and payments acceptance solutions.

The partnership between CIB and Visa will attract further investments by entrepreneurs by granting exclusive benefits to the CIB’s clients in the financial services sector, enabling them to manage their businesses more efficiently and to adapt to the volatile nature of the market.

It is worth noting that CIB recently launched CIB Growth with the aim of easing the banking processes for SMEs that achieve total annual sales of less than EGP 50 million, in line with Egypt Vision 2030.

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