Egypt's Al Ahli Bank signs agreement with Ripple for remittance and payments

Hisham Akasha, Chairman of Egyptian Ahli Bank stated, “ the implementation of this agreement will add a new channel for welcoming remittances in the country Utilizing Ripple platform, this is the first of its kind implementation within the Egyptian banking sector. This is part of Al Ahli’s role in supporting the development of transfers from around the globe specifically GCC addressing high international standards opening up new markets.”

Mr. Hisham Al Safti, Head of Treasury Department and International Finance Relations, stated, “  Both Al Ahli Bank and Ripple carried out all the necessary proof of concept to ensure that the system was working in full compliance and with no security issues.” na