Egypt’s Banks Working to Safeguard E-Banking
Albawaba.com - Cairo
The Union of Egyptian Banks is considering setting up a control mechanism for e-banking.
In a statement to Albawaba.com in Cairo, the union’s head of the technology committee, Abdul Hamid Suleiman, said that the union is presently trying to use the highest security technologies to protect banking transactions on the web, “but these technologies are developing at a fast pace and it is difficult to catch up with them,” he said.
Although the official acknowledged the advantages of e-banking, he said that security remains its Achilles’ heel, which might reflect negatively on the clients when they face their first problems.
Suleiman stressed, however, that his committee is trying its best to follow up closely the developments in security software. He said that experts have been invited to talk at seminars and meeting to keep industry personnel abreast of the state-of-the-art security technologies.