CAC Bank Launched “RAHAL” Package for Serving Expatriates and Pay Internet Via CAC Mobily

2/20/2013 12:00:00 AM

In the context of the continued development and success of CAC Bank and under the patronage of Mr. Monasser Al-Quaiti - the Chairman of Cooperative and Agricultural Credit Bank (CAC Bank) today the bank established a ceremony to launch both products the Rahal package (the Yemeni expatriate banking service package), and the internet payment service (via CAC Mobily package). Interested parties and representatives from the Ministries of Expatriates and Communications participated in this event.

 At the beginning of the ceremony, Mr. Monasser Al-Quaiti - the Chairman of the Board of Directors delivered a speech in which he said that the Cooperative and Agricultural Credit Bank today represents one of the national economic monuments, where it contributed actively to the service of agricultural development and provided generous funding for this sector since earlier of its establishment in 1982.

The Chairman added that the bank has witnessed in recent years’ qualitative transformations in extending its activities and offering its services as a comprehensive banking and financial institution that provides all services to meet the needs of various sectors of trade, industry, agriculture and construction as well as contributed effectively in supporting various major economic activities and providing large funds for the establishment and operations of companies and factories.

Mr. Monasser pointed out that nowadays the bank has the latest banking systems and electronic banking technologies that offer its products with modern and sophisticated models. “The bank has the largest network of branches, with 85 branches and offices distributed in the country and the largest network of ATMs, with 140 machines,” Said Mr. Monasser. Mr. Al-Quqiti pointed out to the bank's financial indicators, the Bank's total assets reached to YER 332 billion as of 31/12/2012, the Bank's total profit before provisions and taxes amounted to YER 6 billion, total customers’ deposits amounted to YER 283 billion and credit portfolio of the same period amounted to YER 44 billion, and the profitable assets amounted to YER 262 billion.

Then Mr. Mohammed Abdulkareem Al-Mansoub – Deputy CEO for Business Development affirmed the importance of serving expatriates and introducing services that meets their needs. He also explained that the remittances of expatriates according to the Central Bank reports amounted to one I.5 billion dollars and this represents only a quarter of the real figure. The expatriates are considered as an inexhaustible wealth. Mr. Al-Mansoub added that through the representatives of CAC Bank in Gulf countries expatriates can open their accounts from anywhere in the Arab Gulf countries in addition to our numerous services.

After That Eng. Sadiq Mosleh – the General Manager of the Public Telecommunications Corporation (PTC) expressed his congratulations to the Cooperative and Agricultural Credit Bank for its achievements in recent years affirming that this success has encouraged the Yemeni telecoms group represented by PTC, Yemen Mobile and TeleYemen to establish a strategic partnership with the bank, and to cooperate in offering mutual services, explaining that a large number of the balances of these companies invested in deposits with the Cooperative and Agricultural Credit Bank as well as all letter of credits opened to foreign companies issued through CAC bank. The General Manager of PTC added that One of the services provided by PTC to the bank is to connect the network amongst CAC Bank branches either through the leased lines of the Public Telecommunications Corporation or through (e - c - g - o) technology by Yemen Mobile, pointing out to the launch of paying the bills of Super Yemen Net and payment of Yemen Mobile lines through CAC Mobily as well as the launch of Wi MAX in the near future.

At the end of the ceremony, a total of 28 people were honored, CAC Bank’s branches managers and PTC’s representatives including Eng. Sadeq Mosleh – GM of PTC, Dr. Ali Nosari – GM of TeleYemen, Eng. Ammer Haza’a – GM of Yemen Mobile Company, Eng. Yasser Al-Emad – GM of Data Transformations, Mr. Hassan Al-Khazzan - Director of Financial and Administrative Affairs, Mr. Mohammed Al-Hadi - Hajjah Branch Manager, Riyad Thabet - Anas Branch Manager, Mohammad Abdulsalam Qamhan - Al-Aodeen Branch Manager, Mabrouk Reihan,- Al-Shaher Branch Manager, Mohammad Al Nuweihi - Free Zone Branch Manager, Mohammad Saeed Al-Adimi -  Haradh Branch Manager, Shaher Alwan – Altawrba Branch Manager, Mubarak Al-Humaidi – Foreign Marketing Manager, Nada Mohammad Noman -Department of Research and Development, Majid Al-Qirbi Head of Systems Development, Mohammed Abu Munasser -  Systems Development, Fawaz Mahdi Al-Shameri -  Systems Development, Fadi Ali Al-Aswadi -  Systems Development, Nasr Mohammad Al-Sharafi - Systems Development , Waheba Ahmed Sameeh - Systems Development, Wadee Al Absi - Remittances Department, Mohammed Sultan - Remittances Department, Khalid Younis - Remittances Department, Samah Al Siyaghi - Risk Department, Eman Al- Sharafi -  Risk Department and Taiseer Al-Saiani -  Risk Department.