AUC Signs MOU With National Bank of Egypt

MOU signing

Recently, AUC signed a joint cooperation protocol with the National Bank of Egypt with the aim of providing all banking services provided by the bank to the AUC community.

The signing, which was held at the National Bank of Egypt's headquarters, was attended by Amir Habib, associate vice president for finance and chief financial officer at AUC, Ramy Nicholas, treasurer at AUC, Yehia Aboul Fotouh, vice chairman of the board of directors of the National Bank of Egypt, Karim Seuss, CEO of Retail Banking and Branches, Hala Helmy, head of products and financial inclusion at the National Bank of Egypt, and a number of bank and university leaders.

Habib expressed his pride in signing the cooperation protocol with the National Bank of Egypt, pointing out that the partnership between the bank and the university is a strategic direction reflecting the depth of the relationship between the two parties, noting that the protocol is the beginning of activating all financial and banking services for AUC and its members.

Sharing the sentiment, Aboul Fotouh expressed his pride in the fruitful partnership with AUC, noting that the cooperation protocol comes within the growing role of the National Bank of Egypt in promoting financial inclusion in support of the state’s efforts by providing various banking services, stressing the bank’s strategy to expand in digital transformation.

Through the agreement, two new electronic service branches are set to be located at the University's premises in New Cairo and Tahrir, enabling students, faculty and staff to benefit from the electronic banking services provided by the bank to meet their daily needs by fast and safe means. Additionally, Souss confirmed that the branches will be based on the principle of self-service for customers for whom modern technology is the basis of their daily dealings in all fields, in addition to providing the university with modern ATMs to facilitate its pioneers in obtaining their daily needs.

Additionally, Helmy elaborated that this cooperation will activate online banking and electronic payment services with the CPS system, which enables the University to pay its own government payments electronically, and the ACH service for bank transfers, in addition to providing special financing programs for university employees, faculty members and parents.

For students, the electronic collection service for tuition fees through prepaid cards will be made available, in particular, through the “Meeza” card for foreign students at the university, which is issued by the bank to all students for free to pay all their daily transactions and expenses through the university’s website or through electronic points of sale (POS) that the bank will provide inside The university, as well as issuing mobile phone wallets for faculty members and university students.

Ultimately, the agreement supports the University's orientation towards expanding financial inclusion and reducing the volume of cash transactions on campus, as part of its larger role in advancing digital and financial inclusion.