First project for electronic trade in Egypt to start

The Egyptian Ahli Bank is starting during the coming week implementation of the first project for electronic trade in Egypt in cooperation with Visa and MasterCard.

The costs of this system reach $1.5 million. Ahli Bank seeks the participation of 40% of Egypt's banks in this system.

The project's feasibility study states that the number of clients anticipated for this system reaches 1% of the total holders of Visa cards in Ahli Bank, with the average line of credit per client being 5,000 LE annually.