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Misr for Central Clearing, Depository and Registry’s Partners with CIB to issuea co-brandedPre-paid Card
MCDR and CIB agreed a partnership to create a pre-paid card for interested investors in the Stock Exchange to be able to access their cash dividends from ATMs as well as make purchases through POS. Thisinnovative initiative is to facilitate the process of accessing stock profitsof investors with ease and efficiency. It is worth mentioning that the card will be issued according to the agreed terms and conditions with no balance, and will be activated within two working days of activation request date. Stock Investors with issued CIB-MCDR Pre-Paid Cards will be able to create their own unique PIN and access their dividend earnings from the nearest CIB ATM as well as make purchases through any POS. These cards, thereafter, will be renewed automatically every three years. Mr. Mohamed AbdelSalam -MCDR CEO- assured that “MCDRis in continuous pursuit of innovative methods that uses state of the art systems and internationally accepted methodologies employed to serve the community. In doing so, MCDR are very careful in choosing their partners to achieve these goals.” On another note, Mr. Amr EL-Ganainy - CIB Global Customer Relations President–stated that“The new initiative of introducing the CIB-MCDR Pre-Paid Card into the Egyptian market will support the transformation of the Egyptian society from a cash-oriented base into a cashless culture. In addition, the CIB-MCDR Pre-Paid Card issuance is in line with the Bank’s mission to strengthen “card usage” over “cash payment”by encouraging cardholders to enjoy a unique host of features and benefits”.