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As MCDR seeks to develop the performance of the Egyptian capital market and according to achieve the financial inclusion and push all members of the market towards this, So MCDR Registered to the Egyptian Automated Clearing House service (ACH), and to provide this service using CorPay to our member companies (Brokers and Records Management) and to those who interested in subscribing to our payment systems. And as we are in the testing phase right now in collaboration with EBC to go live soon.
- Definition of ACH
The Egyptian Automated Clearing House(ACH) is an electronic payment system Managed by the Egyptian Banks Company (EBC) under the supervision of the Central Bank of Egypt (CBE). And the ACH provides the transfers via secured national platform. And the transactions cover the Direct Debit, and Direct Credit operations.
The ACH System:
- Supported by 40 banks
- 174 million deals
- 3.1 trillion pounds
-700 companies benefiting from CorPay
- 100% savings
- Guaranteed 100%
- Financial Inclusion
As our Central Bank instructions, the Automated clearing house becomes one of the most important payment systems that ensures the Financial Inclusion.