1. CBE grants ADIB-Egypt preliminary approval to launch prepaid card Takka in collaboration with ADI-Consumer Finance and Meeza

According to Daily news, Abu Dhabi Islamic Bank-Egypt (ADIB-Egypt) announced that it has received preliminary approval from the Central Bank of Egypt (CBE) to launch its Takka prepaid card in collaboration with the bank’s consumer finance arm, ADI Consumer Finance (ADI-CF), and Meeza.

Mohamed Aly, ADIB-Egypt’s CEO and Managing Director said, “Receiving the CBE’s preliminary approval to launch this breakthrough product reflects the immense confidence in ADIB-Egypt and the compelling brand portfolio of our consumer finance arm, ADI-CF which aims to redefine consumer finance in Egypt, strengthening our commitment to widening financial inclusion with a wide-ranging and unique portfolio of Sharia-compliant financial products.”

ADIB-Egypt had obtained at the end of last year the Financial Regulatory Authority’s approval to launch ADI-CF, the bank’s wholly-owned and dedicated consumer financing arm.

ADI-CF was awarded the Payment Card Industry Data Security Standard (PCI) certification, demonstrating its commitment to security and customer data privacy. This certification ensures complete security and confidentiality of cardholder data.

Preparations are currently underway to launch the Takka prepaid card, as Egypt’s first Sharia-compliant consumer finance product in Egypt.

 

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