Cairo, December 15, 2022: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt), one of Egypt’s fastest growing banks, has announced today joining the National Instant Payment Network (IPN) through “InstaPay” mobile application, which enables instant and secure electronic payments and transfers. This comes in line with the Central Bank of Egypt (CBE) efforts and national direction towards the transition to a cashless society. This launch comes as part of the Bank’s ambitious digital transformation strategy, which focuses on accelerating the pace of digital payments adoption and enhancing customer awareness on digital banking services.

Instant Payment Network (IPN) provides a wide range of digital financial services, where customers can access and link all bank accounts through one mobile application. Through the application, customers can make secure transfers between bank accounts, cards, and mobile wallets. The application also allows customers to make payments, transfers, and easily collect money using account numbers or IBAN, registered mobile numbers, and Instant Payment Address (IPA) for IPN customers.

ABK- Egypt remains committed to supporting national efforts to achieve Financial Inclusion and the Digitization of the banking sector through investing in upgrading its technology infrastructure. The Bank works alongside the Central Bank of Egypt (CBE) to lead impactful initiatives that boost digital payments and introduce innovative services that paves the way for a cashless economy.