Dot acquires initial license to start running Klivvr app in partnership with AAIB

Daily News Egypt
3 Min Read

Dot for Electronics Development and Electronic Payments announced on Sunday that it had obtained the initial approval from the Payment Systems and Services Sector of the Central Bank of Egypt (CBE) to launch a private application and payment cards through its brand, ‘Klivvr’, in partnership with the Arab African International Bank (AAIB).

This comes under the framework of the CBE to facilitate citizens’ lives and support the financial inclusion plan.

Onsi Naguib Sawiris, the Chairperson of Orascom Financial Holding and the owner of the majority stake in Dot, said that the state is working hard to achieve the goals of financial inclusion, which encouraged Dot to enter this field in order to participate in the state’s future plan, especially as a result of the great interest and support from all state leaders to achieve financial inclusion and the size of the market and the quality of return on investments in the Egyptian market in the field of technology in general and financial technology in particular.

Sawiris concluded his speech by thanking the CBE and all its leaders for their constant support and keenness to facilitate all necessary procedures to launch advanced services to the public, aiming to develop the relevant sectors and empower Egypt as a regional and global financial centre.

Mohamed Aboul Naga, the Co-founder and CEO of Dot for Electronic Development and Electronic Payments, said that they are working hard with the CBE, the Arab African International Bank and all their partners to provide different solutions that meet the needs of all segments of society, especially young people, to provide methods and tools aiming to achieve the financial health of all segments of society through Klivvr.

“I thank the CBE, the Arab African International Bank, investors, Orascom Financial Holding, and Excel Systems, in addition to the company’s management team for all the support in the past period so that we can obtain a license to issue payment cards and the application to the public,” Aboul Naga said.

It is worth noting that Orascom Financial Holding announced in March 2021 the establishment of a company in the field of financial technology and the appointment of Aboul Naga as the CEO of the company, in addition to a founding team with accumulated experiences of more than 120 years in the field of technology, and in June 2021 it announced the brand name Klivvr.

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