The Central Bank of Egypt grants Dot for the Development of Electronics and Electronic Payments an initial license to begin operating its Klivvr app and card, the first financial product of its kind in the Egyptian market, in partnership with the Arab African International Bank.
In accordance with the Central Bank of Egypt’s financial inclusion plan, which aims to provide citizens with more accessible digital financial services, Dot announced that it obtained the payment systems and services sector of the Central Bank’s initial approval to launch its own application and payment cards through its brand Klivvr.
“We are proud to take part in the state’s financial inclusion initiative, led by President Abdel Fattah El-Sisi, Prime Minister Dr. Mostafa Madbouly, and the Governor of the Central Bank, Mr. Tarek Amer. We share the state’s interest in helping Egyptian citizens become more financially literate and independent and were encouraged to enter the sector to lend the initiative support, given our knowledge of the size of the market and the budding potential of Egypt’s technology and FinTech sectors,”Eng. Onsi Sawiris, Chairman of the Board of Directors of Orascom Financial Holding, the majority shareholder of Dot.
Orascom Financial Holding announced the establishment of a financial technology company and the appointment of Aboulnaga as CEO in March 2021. The company’s team has more than 120 years of accumulated experience in the technology sector. Klivvr’s mission is to empower people with the tools they need to achieve stellar financial health.
“We are working hard with the Central Bank, AAIB, and our partners to offer different solutions that meet the needs of all segments of society, particularly the youth, in order to provide methods and tools that aim to promote financial inclusion for all segments of society through the launch of Klivvr.”Eng. Mohamed Aboulnaga, Co-founder and CEO of Dot.
Klivvr is a subsidiary of Orascom Financial Holding. The investment company focus on the financial services industry and its emerging technology-driven solutions in partnership with Excel one of the most pioneering IT solution platforms. The company aims to revolutionize how people and businesses access and manage their financial lives.
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