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Arab Bank has recently launched its FinTech-focused corporate accelerator program “AB Accelerator” in Egypt, following its successful launch in Jordan back in 2018.  
The launch of this program in Egypt comes as part of the bank’s strategic efforts to foster and support innovation in the FinTech sector towards offering responsive and agile banking solutions in line with the evolving needs and expectations of clients across different segments.

The “AB Accelerator” program aims to accelerate the adoption of emerging technologies and solutions within Arab Bank, and support entrepreneurs with the opportunity to scale their market ready FinTech startups across the MENA region. Driven by this objective, the “AB Accelerator” program works to integrate into Egypt’s startup scene through investing in early-stage startups specialized in FinTech as well as other related technology verticals, such as cybersecurity and artificial intelligence (AI), with a focus on startups that demonstrate strategic alignment with Arab Bank. 

Commenting on the launch of the program in Egypt, Hala Zahran, Lead of AB Accelerator commented: “AB Accelerator is unique in a way that applies a venture client as well as a venture capital model. “AB Accelerator” provides early-stage startups with a banking and commercial collaboration that not only helps them gain credibility and validate their product, but also allows them to instantaneously tap into multiple geographies. As such, “AB Accelerator” program encompasses the essence of what a strategic investor is.” Zahran also added: “Over the past two years, we have invested in a global portfolio of startups from the US, Europe and in the MENA region, including startups like Seclytics (Cybersecurity), Tabby (Buy Now Pay Later) Hala Insurance (Digital Insurance).”

From her side Habiba Helmy, Innovation Lead at Arab Bank – Egypt remarked: “We are very excited about this new opportunity to connect with promising FinTech startups in Egypt, which has one of the region’s most thriving ecosystems for innovation.” She added: “Egypt is home for talented and passionate entrepreneurs who we are eager to collaborate with and, eventually, help in expanding their footprint both locally and regionally.” 

Commenting on the benefits that startups receive upon joining AB Accelerator program, Helmy pointed: “Not only will startups be able to receive funding of up to $500,000, but they will also be entitled to a host of unique benefits as part of their collaboration with Arab Bank. These benefits include: creating a customized Proof of Concept to test solutions which could potentially lead to a pilot agreement with the bank, as well as instantly accessing customers and markets across Arab Bank’s regional and global network.”

It is worth noting that Egyptian entrepreneurs who wish to join Arab Bank’s “AB Accelerator” portfolio of companies may apply online through: www.abaccelerator.co/apply-now or send an email to: hello@abaccelerator.co which were launched specifically to receive inquiries and application forms.

Arab Bank is one of the leading financial institutions in the region to deploy state-of-the-art technological solutions for financial and banking services. The bank’s strategic approach on this front dovetails with its constant endeavor to support entrepreneurs and startups that contribute to youth capacity building, innovation and employment, as critical elements towards achieving sustainable economic development.
It is also worth noting that Arab Bank’s presence in Egypt started in 1944. Currently the bank has 44 branches located in main cities and governorates across Egypt. Arab Bank has one of the largest global Arab banking networks with over 600 branches spanning five continents. 
Aug 22, 2021
Arab Bank Launches its FinTech Accelerating Program in Egypt
New York-based Global Finance magazine recently awarded Arab Bank the “Best Bank in the Middle East 2021” award, for the sixth year in a row. 
This global recognition came as part of Global Finance’s 28th Annual Best Bank Awards and was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
The objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Global Finance Awards cover more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe.
Commenting on this achievement, Mr. Nemeh Sabbagh, Arab Bank’s Chief Executive Officer said: “Receiving this global recognition for the sixth consecutive year is a testament to the strength of the bank’s business model and its ability to deliver strong performance across its regional network despite the exceptional circumstances and challenges posed by the COVID-19 global pandemic”. Sabbagh added: "The bank continues to provide comprehensive banking solutions to its customers across various sectors locally and regionally, in addition to its focus on keeping pace with the latest technological developments in the banking industry, in line with its comprehensive strategy and ambitious future vision."
It is worth mentioning that Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches spanning five continents. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai and Bahrain.
Aug 15, 2021
For the Sixth Consecutive Year Arab Bank “Best Bank in the Middle East 2021”

Arab Bank Group reported net income after tax of $182.4 million as compared to $152.1 million for the same period last year, recording a growth of 20%. During the first quarter of 2021, Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.2 billion to reach $63 billion compared to $51.6 billion for the same period last year. Oman Arab Bank has also recently finalized the acquisition of Al Izz Islamic Bank, a full-fledged Islamic bank, strengthening its presence in the Sultanate of Oman.

Customer deposits grew by 28% to reach $46 billion, while loans grew by 27%, to reach $33.8 billion. The consolidation of Oman Arab Bank has materially increased customer deposits and loans by $7 billion and $7.2 billion, respectively.

Mr. Sabih Masri, Chairman of the Board of Directors remarked that the solid results demonstrate the strength of the Bank’s diversified business model and the Bank’s resilient performance in this challenging economic environment.

Mr. Nemeh Sabbagh, Chief Executive Officer, commented that despite the negative economic consequences of the pandemic, the Bank's robust performance confirms its effectiveness in operating in a challenging economic environment as net operating income increased by 6% to reach $579.8 million. He added that the Group enjoys high liquidity and a strong capital base with a loan to deposit ratio of 73.5%, equity of $10.3 billion, and a capital adequacy ratio of 16.7%. Mr. Sabbagh also noted that the Group continues to hold credit provisions against non-performing loans in excess of 100%.

Mr. Masri expressed his confidence in the Group’s ability to maintain its solid financial indicators. He also concluded by remarking that the Group will remain committed to sustainable community development, and to fostering the interests of its customers, shareholders and communities.

Arab Bank has recently issued its eleventh annual sustainability report, which provides a summary of the Bank's performance and achievements in the social, environmental and economic fields for the year 2020.

During the Board meeting which took place on 29th July 2021, the Board approved the appointment of Mr. Mahmoud Malhas as board member and he was elected as Deputy Chairman of the Board.

Mr. Nemeh Sabbagh, the Chief Executive Officer of Arab Bank also informed the Board during the meeting of his desire to retire at the end of the year. Mr. Sabbagh has had a distinguished 47 year international career in banking and finance and has been the CEO of Arab Bank for the past 12 years.

Mr. Sabbagh recommended to the Board the appointment of Ms. Randa Sadik as his successor. Ms. Sadik has been holding the position of Deputy Chief  Executive Officer since 2010. The recommendation was welcomed by the Board of Directors.

Aug 1, 2021
Arab Bank Group first half 2021 net profits grow by 20%

Arab Bank launched a new bill payment service available through the bank’s online banking service “Arabi Online” and “Arabi Mobile” app, in collaboration with “Fawry”, the leading digital transformation and e-payments platform in Egypt The launch of this new service comes as part of Arab Bank’s strategic efforts to expand its digital offerings and deploy innovative digital solutions in line with its customers’ evolving needs and lifestyle.

The new “Fawry” service offers Arab Bank’s customers the ability to inquire about their bills and pay their due bills instantly within the highest levels of security and ease to a wide range billers and service utilities including telecommunication, tourism and airline tickets, online payments, utilities, insurance, university fees, donations, subscriptions and advertisements.

Commenting on the service launch, Mr. Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, stated: “We continuously seek to provide our customers with the latest digital banking services within the highest levels of flexibility and security.” He added: “The new service is yet another value-added addition to the comprehensive banking services that the bank offers through “Arabi Mobile” and “Arabi Online”, providing customers with a simultaneous and seamless bill payment experience.”

It is worth mentioning that Arab Bank provides its customers with a comprehensive range of digital banking solutions, such as the “Arabi Mobile” app, the “Arabi Online” service, and an extensive network of advanced Arab Bank ATMs including drive-thru ATMs. This is in addition to offering customers a range of innovative digital banking service around the clock through its first self-service Branch in Egypt – CityStars Mall and its self-service area at the New Cairo Branch.

Jul 20, 2021
Arab Bank Offers E-Payment Service “Fawry” to its Customers

Arab Bank has recently launched the “Travel Mate” credit card exclusively for its “Elite” program customers in collaboration with Visa, the leading global payments technology corporation.

The new credit card offers a host of integrated banking and non-banking privileges and services that are exclusively in line with “Elite” customers' lifestyle while travelling abroad. This comes as part of the bank’s strategy to continuously deploy the latest banking solutions and services that meet its customers’ evolving needs and expectations.

Arab Bank’s “Travel Mate” credit card offers “Elite” customers a range of special features including, 0% foreign exchange commission on a wide range of currencies, flexible repayment options for minimum monthly payments starting from 5% of the balance, higher cash withdrawal limit, convenient Easy Payment Plan starting from 1.5%, grace period of interest-free credit up to 57 days, complimentary airport lounge access, optional credit shield insurance which covers 100% of the outstanding balance.

Commenting on the card launch, Ahmed Ismail, Country Manager at Arab Bank – Egypt, said: “We continuously seek to provide our customers of all ages with value-added products and services that meet their diverse needs and expectations.” He added: “The “Travel Mate” credit card is yet another valuable addition to our “Elite” program which offers exclusive benefits with greater luxury to its unique customer segment.”

For her part, Ms. Malak Al Baba, Country Manager at Visa - Egypt, said that Visa is delighted to collaborate with Arab Bank on launching the “Travel Mate” credit card from Visa, the first of its kind in Egypt, providing cardholders with many privileges and benefits tailored to cater to the “Elite” segment’s needs.  Al Baba added: “With the resume of travel around the world, cardholders are able to utilize the new Visa card within Visa’s worldwide network of 70 million merchants. We look forward to growing our collaboration with Arab Bank to provide cardholders with a convenient and secure digital payment experience in line with their expectations.”

Arab Bank’s credit card products provide a wide range of benefits to their cardholders, including worldwide acceptance, easy and secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service “Arabi Online” in addition to the Easy Payment Plan service.

Jul 14, 2021
For The First Time in Egypt - Arab Bank Launches Visa Travel Mate Credit Card
Arab Bank - Egypt has recently launched a blood donation campaign entitled "Donate to impact", which was held at the bank's head office in Cairo, in collaboration with the blood transfusion center at Kasr–El-Aini Hospital.

The campaign generated a remarkable amount of donations from Arab Bank employees, whose contributions reflect their genuine sense of responsibility and commitment towards supporting hospitals and helping patients who are in need of blood transfusions. The bank has also taken all precautionary measures during the campaign to ensure a safe environment for all parties.

The launch of this campaign comes as part of Arab Bank's community initiatives and its continuous efforts to support the health sector, as well as its commitment towards the wellbeing of its staff.
Mar 17, 2021
Arab Bank Holds a Blood Donation Drive for its Employees in Cooperation with Kasr-El-Aini Hospital
Arab Bank recently launched its contactless wearable payment solutions “BandPay” and mobile sticker in Egypt, allowing customers to conduct cardless transactions easily, safely and conveniently. The launch of these two solutions comes in line with the bank’s continuous efforts to reinforce its digital banking services, and provide its customers with innovative banking solutions that save them time and effort.
Through the contactless technology, customers will be able to carry out their banking transactions directly from their account without the need to present their cards by simply waving their “BandPay” or mobile sticker at points-of-sales machines that support contactless payments across a wide network of merchants.
Commenting on the launch, Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, stated: “Arab Bank’s contactless bracelet ‘BandPay’ and mobile sticker offer a range of features that enable customers to perform their banking transactions with utmost flexibility and security.” He added: “We continuously seek to provide innovative digital banking solutions in line with the latest technologies to expand the range of our value propositions in response to customers’ evolving needs and expectations.”
It is worth mentioning that the contactless bracelet “BandPay” and the contactless mobile sticker can both be used at various points-of-sales without the need to enter the PIN code up to a preset maximum daily limit. This is in line with the Central Bank of Egypt directives aiming at expanding the deployment of contactless banking services due to the COVID-19 pandemic outbreak.
Arab Bank’s customers can issue both items instantly through any of the bank’s branches.
Jan 6, 2021
Arab Bank Launches Contactless Bracelet “BandPay” and Mobile Sticker