efinance for financial and digital investments announced that it is issuing Meeza cards to replace the blue pension exchange slips that are about to expire in cooperation with the National Authority for Social Insurance and the Agricultural Bank of Egypt (ABE).
This step is a continuation of the successful partnership between the group and the National Social Insurance Authority.
The National Social Insurance Authority is disbursing approximately EGP 22bn per month to 10.7m pensioners and beneficiaries, all of whom receive their wages through Meeza bank cards, with the exception of 1m beneficiaries holding soon-to-expire blue pension slips. The process to replace these slips with the new Meeza cards is being carried out through 1,700 exchange points, including the headquarters of the ABE.
For his part, Gamal Awad — Chairperson of the Board of Directors of the National Social Insurance Authority — said that the cooperation with efinance is a continuation of joint efforts that have been ongoing since 2009, as the National Council for Payments and the Central Bank of Egypt (CBE) cooperate to achieve the objectives of the digital financial transformation in Egypt.
For his part, Ibrahim Sarhan — Chairperson of the Board of Directors of efinance— expressed his pride in the partnership with the National Authority for Social Insurance, revealing the readiness of E-Cards — a subsidiary of efinance — to issue, operate, and manage the remaining 1m Meeza pension cards in cooperation with Banque Misr and ABE.
Mahmoud Kamal — Managing Director of E-Cards — explained that in light of the CBE’s initiative for financial inclusion, the company started in 2021, in cooperation with the National Authority for Social Insurance and Egyptian banks, to convert old cards into Meeza cards by issuing, managing, activating, and distributing nearly 1m cards through the authority’s offices across the country.
He added that the new cards are used for cash withdrawals through 20,000 automated teller machines as well as for purchases and paying for government services.