Agricultural Bank of Egypt issues first eco-friendly credit card

The Agricultural Bank of Egypt (ABE) launched the first environmentally friendly contactless credit card, within the framework of the bank’s strategy to achieve sustainability, out of the bank’s keenness on supporting and implementing Egypt’s Vision 2030 for sustainable development. Through this step, the bank aims to limit the impact of climate change and reduce carbon emissions.

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

The card is environmentally friendly in accordance with international standards, as it is made from biological materials approved by international environmental bodies. It is produced from renewable plant sources. These materials provide great environmental benefits, as they do not result in any harmful residues 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 of this makes the card more sustainable and provides up to 73% lower carbon footprint than many traditional plastic cards.

Alaa Farouk, Chairperson of the ABE, said that the bank’s issuance of an environmentally friendly credit card comes in conjunction with Egypt’s hosting of the Climate Change Conference held in Sharm El-Sheikh, and out of the bank’s keenness on supporting the state’s efforts to achieve sustainable development. Egypt considers the aspect of sustainable development a top priority. It was one of the first countries to adopt national plans that contributed to the implementation of the United Nations Agenda 2030, and this was embodied in the sustainable development strategy “Egypt’s Vision 2030”.