Agricultural Bank of Egypt issues the first eco-friendly credit card in collaboration with Visa | Techy Kings

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The Agricultural Bank of Egypt (ABE) launched the first eco-friendly contactless credit card, as part of the bank’s strategy to achieve sustainability, on the bank’s determination to support and implement Egypt’s Vision 2030 for sustainable development. Through this measure, the bank aims to limit the effects of climate change and reduce carbon emissions.

The card was designed and produced in collaboration with VISA, G+D and i-Finance, all leading institutions in the field of payment technology and solutions for the banking sector, through unique and innovative designs and advanced insurance solutions.

The card is environmentally friendly according to international standards, as it is made from biological materials approved by international environmental bodies. It is produced from renewable plant resources. These materials provide great environmental benefits, as they do not result in any hazardous waste at any stage of their use or even their disposal if the card is renewed or replaced, compared to traditional cards made of plastic. All this makes the card more sustainable and provides up to 73% lower carbon footprint than most traditional plastic cards.

Alaa Farouk, Chairman of ABE, said that the issuance of environmentally friendly credit cards by the bank was in conjunction with Egypt’s hosting of the Climate Change Conference held in Sharm El-Sheikh, and on the bank’s determination to support the country’s efforts to achieve sustainable development. Egypt considers the aspect of sustainable development as a priority. It is one of the first countries to adopt a national plan that contributes to the implementation of the United Nations Agenda 2030, and this is embodied in the sustainable development strategy “Egypt Vision 2030”.

“The bank is working to apply the concept of sustainability and integrate environmental elements into all the bank’s banking activities, products and services, especially in relation to reducing carbon emissions and using environmentally friendly materials that reduce the effects of global warming. We chose eco-friendly materials to produce these cards,” added Farouk.

Malak El Baba, General Manager of Visa in Egypt, said: “The company invests a lot of effort and resources to reduce its carbon footprint, and this is not only limited to internal efforts, but also includes providing innovative ways to help its partners achieve their goals. sustainable growth.”

He added, “We are delighted with our partnership with ABE, one of the leading banks supporting agriculture as one of the pillars of Egyptian economic growth. We look forward to the reflection of this partnership on the integration of new segments into the banking system, which is an extension of our commitment to the Egypt 2030 strategy for sustainable development goals.”

Ahmed Assem, General Manager of the Banking Sector in Egypt and the Middle East at G + D, expressed his pleasure to work with ABE in producing the first eco-friendly credit card, which confirms the bank’s determination to achieve sustainability in its banking products.

He pointed out that J&D is interested in producing these cards in its factory, which is run entirely on green energy. He emphasized the importance of sustainability and reducing carbon emissions in bank card manufacturing, in the implementation of the company’s direction and vision of the need to change all bank cards to environmentally friendly cards by 2030.

He emphasized that the ABE credit card is the first eco-friendly credit card issued by the company for an Egyptian bank, and it is entirely made of biodegradable plant material, unlike other non-biodegradable plastic cards.

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