UB Services

According to The World Bank and The United Nations Conference on Trade and Development (UNCTAD)

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Ashraf El Kady

According to The World Bank and The United Nations Conference on Trade and Development (UNCTAD)

 A leap in the Egyptian technological exports with 460% in the last five years

Ashraf El Kady- The Chief Executive Officer and Managing Director

  • 12% targeted annual growth in Egypt in FinTech by 2025.
  • Positive outcomes of the state’s plans to settle electronic industry with international certificates.
  • 5 Egyptian cities on the technological investments agenda.
  • FinTech sector leads the investments indicators in Egypt and Africa.
  • UB provides its clients a unique package of digital services that meet their present needs and future expectations.

 

Cairo: 12th October, 2023

Ashraf El Kady- The Chief Executive Officer and Managing Director announced that the Egyptian technological exports made a great leap in the growth indicators to reach 460%. As per the data received from The World Bank and UNCTAD affiliated to The United Nations (2016-2021).

The report referred this unprecedented increase in the volume of the Egyptian technological exports to the successful policy set by The Egyptian state. Aiming to deepening the local industrialization, reducing the imports, increasing the exports, attracting investments, creating more jobs opportunities and maximizing the Egyptian youth’s skills.

El Kady pointed out that many big commercial brands expressed their interest in investing in the Egyptian market like: Samsung who has built a factory in Beni-Suef to produce tablets. Moreover, it works on establishing another new factory to produce electric equipment. As well as, other international companies announced their intentions to invest in the Egyptian market.

He mentioned that there are five Egyptian cities on the international electronics investments map which are : Beni-Suef, 10th of Ramadan, 6th of October, Assiut. Where a number of new factories have established there to deepening the local industry of mobile phones after years of importing and collecting.

In addition to the attraction of many international companies in investing in the electronics industry center in El Maarefa (Knowledge) city in the New Capital city. The center includes many research and large productive centers, such as: electronics industry center which compromises large international companies specialized in designing and producing with the needed technology to locally manufactured. The thing that contributes to full inauguration of production chains in Egypt starting from designing the items, production either for local market or from exporting to global markets.

El Kady gave an example with mobiles phones manufacturing. This industry witnessed an increase in the local manufactured according to international quality standards which reflected on the decrease in the exporting demand.  Mobiles phones importing, in 2021, recorded 1.7 Billion dollars; meanwhile, in 2022, it record only 342 million dollars. As per the information center of the Ministers Counsel 2023.

Ashraf El Kady announced that the Egyptian state targeting 12% annual growth in FinTech services by 2025. Egypt has the highest number of FinTech companies in Africa in 2022 to reach 678 company comparing with 2021 there were 576 companies, as per to the Information Center of the Ministers Counsel.

UB is among the firsts banks to provide digital services to meet customers’ present needs and future expectations.  UB Mobile banking provides 17 banking services:

  • Inquiry all customer accounts (current - savings - investment - loans - certificates - deposits - checks)
  • Inquiry credit card balances for individual customers (Primary and supplementary). Through a detailed statement to all transactions made on the customer’s account and credit card up till the last transaction.
  • Inquiry about loans provided to the customer either traditional or compliant with sharia provisions loans.
  • Providing customers with the ability to open new sub accounts easily.
  • Allowing customers to transfer easily between same customer accounts, and between customer accounts within UB.
  • Allowing the customer to transfer money to another bank inside Egypt.
  • Receiving external transfers.
  • Providing customers with wide range of opportunities to pay all their duties for credit card settlements.
  • Providing customers with Checkbook request.
  • Inquiry the nearest branch or ATM, wherever the customer is, inside Egypt.
  • Paying donations to charitable bodies and societies, and providing support to a number of non-governmental institutions approved by the Social Solidarity Ministry and by UB according to terms and conditions.
  • Providing cards services (Activation - Deactivate – Report stolen or loss card).
  • Charging the prepaid cards.
  • It is a safe mean to preserve customers’ health and safety. Especially in crowded places, without the need to direct (face-to-face) interaction.
  • Inquiry all discounts and offers provided by UB through the applications.
  • Inquiry I- Score.
  • Ability to download UB digital wallet and let the customer enjoying a special experience easily.

The mobile banking service works 24/7. UB customers can make bank transactions in the easiest way with saving time, without the need to go to one of UBs 68 branches that covers all the Republic.