Telecom Egypt (TE)(ETAL-CA) entered new agreement with the Commercial International Bank(CIB) valued at EGP55 million, including providing electronic interconnection to the bank's data center services at 10 GB / s by using fiber optic technology. This agreement comes to continue the footsteps of TE towards modernizing banking networks with latest technology and electronic solutions, to assist in providing new banking services. Eng. Mohamed Al-Nawawi, CEO of TE stated that the agreement will provide strong internet services and transferring databases according to the quality and efficiency. Hisham Ezz Al-Arab, the Chairman and the Managing director of CIB said linking the bank's databases and modernizing the databases will enhance CIB's ability to continue growing and to provide the best banking services for customers. Ezz Al-Arab added that the databases of customers is growing rapidly and significantly, and there is a large and fast increase in the volume of transactions, which requires compliance with the requirements of the banking and financial market, especially in light of the huge boom in its home market of telecommunications services in the banking financial applications.
