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As part of its commitment to supporting the technology and financial services sectors and enhancing strategic partnerships, the Industrial Development Bank (IDB) has signed a credit facility agreement worth EGP 1.13 billion with Raya Information Technology, a subsidiary of Raya Holding for Financial Investments. The aim is to finance its expansion plans in digital transformation projects and the development of technological infrastructure in the Egyptian banking sector.

The signing ceremony was attended by:

• Mr. Hussein Refaie – CEO and Managing Director of the Industrial Development Bank

• Ms. Mennan Awadallah – Deputy CEO and Executive Board Member of the Bank

• Mr. Ahmed Khalil – Managing Director of Raya Holding for Financial Investments

• Mr. Hisham Abdel Rasoul – CEO of Raya Information Technology

• Mr. Hossam Hussein – CFO of Raya Holding for Financial Investments
  In addition to a group of executive leaders from both organizations.

The agreement aims to finance advanced technological projects that contribute to the development of the digital infrastructure of the Egyptian banking sector, and to enhance its ability to keep pace with global developments in digital transformation, cybersecurity, and financial inclusion—aligned with Egypt's Vision 2030 and the state’s plans for a sustainable digital economy.

During his speech, Mr. Hussein Refaie affirmed that this financing is part of the bank’s strategy to support national leading companies in digital transformation. He emphasized that this step reflects the bank's commitment to funding innovation and technology that support the Egyptian economy and contribute to achieving the state’s vision for digital transformation and financial inclusion.

He added that this financing continues the bank's efforts in offering innovative financial solutions. The collaboration with Raya Information Technology reflects the bank’s vision to support the state's plans toward a sustainable digital economy and to increase reliance on modern fintech solutions to meet various customer needs.

Ms. Mennan Awadallah stated that the bank focuses on building long-term partnerships with strong institutions in the Egyptian market. Raya Holding comes at the forefront, with this being the Industrial Development Bank’s first collaboration with Raya Information Technology—one of the most established technology firms in Egypt. She emphasized its vital role in enhancing technological efficiency and digital transformation in the financial and banking sectors, expressing confidence that the agreement will open new horizons for joint cooperation.

From his side, Mr. Ahmed Khalil, Managing Director of Raya Holding for Financial Investments, expressed his pleasure with the partnership, saying:
"This partnership with the Industrial Development Bank is more than just financing; it’s a new step in our vision to accelerate digital transformation and financial inclusion in the Egyptian financial sector. This funding reflects the trust that financial institutions place in our capabilities and reinforces the position of 'Raya Information Technology' as more than just the technological arm of Raya Holding—but as a strategic partner in building a technological infrastructure capable of supporting the future of the Egyptian economy. We are not just keeping up with digital transformation—we are shaping it."

Mr. Hisham Abdel Rasoul, CEO of Raya Information Technology, praised this constructive collaboration with IDB, stating that it represents a significant milestone that reflects confidence in Raya’s technical and operational capabilities, and its pivotal role in developing the digital infrastructure of the financial sector. He added that the credit facility will empower the company to execute its expansion plans and strategic projects, in support of Egypt's digital transformation goals, and to offer advanced technological solutions to its clients. He concluded by expressing his eagerness to continue this strategic alliance with IDB, given its effective role in driving innovation and supporting the national economy.

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About the Industrial Development Bank (IDB)

The Industrial Development Bank is one of Egypt’s most established full-service national banks, offering a comprehensive range of banking services for both corporate and individual clients. The bank focuses on supporting Egyptian industry and financing small and medium-sized enterprises (SMEs), while adopting an ambitious strategy for financial inclusion and digital transformation. Through its initiatives and financial products, the bank aims to contribute effectively to achieving sustainable economic development.

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About Raya Information Technology

Raya Information Technology is the technology arm of Raya Holding for Financial Investments and is one of the leading companies providing digital transformation solutions in Egypt and the region. The company offers an integrated portfolio of services, including systems integration, smart infrastructure, cybersecurity, cloud services, software development, and managed services. It operates in Egypt, Saudi Arabia, and the United Arab Emirates. Raya IT is a strategic partner to top global technology companies and plays a vital role in supporting the digital transformation agendas of government, financial, and private institutions—enhancing business efficiency and serving as a key player in shaping the future of the digital economy in the region.

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About Raya Holding for Financial Investments

Raya Holding is one of the region’s leading investment groups, managing a diversified portfolio of companies operating across various sectors, including technology, non-banking financial services, food & beverage, trade and distribution, electric vehicles, hospitality, and manufacturing. Raya operates in markets including Egypt, Saudi Arabia, the UAE, Bahrain, Nigeria, and Poland, and employs over 20,000 people. Since its listing on the Egyptian Exchange in 2005, Raya has continued to drive economic and digital transformation in the markets it serves, through sustainable solutions and strategic partnerships that strengthen its impact and long-term growth.