CAC Bank & UnionPay Signed an Agreement to Launch the Service of the UnionPay Cards

12/24/2014 12:00:00 AM

CAC Bank and UnionPay today signed an agreement in Shanghai –China to launch the banking service of using UnionPay cards for the purpose of CAC Banks’ customers use.

The Agreement was signed by Mr. Salah Sadeq Basha – CEO of CAC Bank and Cai Jianbo- CEO of UnionPay which aims to enable CAC Bank clients to use the credit & debit cards through the UnionPay Chinese and International network.

In a speech to media Mr. Salah Basha _CEO of CAC Bank mentioned the importance of this agreement to the banking services in Yemen indicating that the selection of UnionPay to CAC Bank comes as an sign of CAC Bank capability and enjoyment of an advanced electronic infrastructure in line with the international standards of banking systems. The CEO added that this service will expand the activities whereby clients of CAC Bank can use the cards internally inside Yemen and externally outside Yemen. Our bank is considered to be the first and the sole bank to launch this service in Yemen and among the former banks in the middle east and horn Africa; in which this banking connection will be a good addition to the national economy that will support the Yemeni dealers with China and strengthen the prospects for trade cooperation between the two countries.

Moreover, Mr. Ibrahim Nijad – Assistant of Deputy CEO for Banking Operations said that UnionPay company is the third ranked company among credit cards providers that comes behind Visa and MasterCards, as well as UnionPay is characterized by its global use, safety, security, and the confidentiality of its operations. Mr. Ibrahim stated that this service will be used on a large scale internally via our ATMs and point of sales spread all around the country as CAC Bank is considered to be the largest bank in Yemen that possessing such services. He also pointed out that CAC Bank proved its competitive adequacy and winning the trust of UnionPay and many other several banking and financial institutions.

Then the high management of the bank thanked and appreciated the team work for their great efforts that produced this success.