Government signed MoU with Visa Inc.

CAIRO - 17 May 2017: A memorandum of understanding (MoU) signed on Tuesday between the Egyptian Ministry of Communication and Information Technology and President of Visa Inc. Ryan McInerney was witnessed by PM Sherif Ismail, said a cabinet statement issued on Tuesday.

The MoU is on developing the technological infrastructure of banking as well as activating the digital economy.

In press statements, the prime minister praised the cooperation between the Egyptian government and international Visa Inc. that will bring a paradigm shift in developing traditional ways in services provided to citizens.

The deal aims at developing the state's infrastructure to create a new generation of Egyptian cadres in the field of digital payments.

McInerney said his company is committed to cooperation with the Egyptian government to help it achieve its goals, such as providing subsidy for citizens via digital cards.

He appreciated the Egyptian government's determination to develop financial services for citizens and activate the digital economy.