Cairo Amman Bank adopts EastNets solutions to connect to SWIFT

Through establishing a closed group that is managed by Cairo Amman Bank (SWIFT MA-CUG), members of the group (money exchange companies and corporations) are able to communicate electronically with the bank via the SWIFT network, and send or receive money transfers electronically through their accounts at CAB.

The advantages of this solution include issuing quick and accurate money transfers, and the possibility of executing the transfer on the same day with competitive commissions.

In addition to providing participants with a 'statement of account' through the SWIFT system enabling companies to manage their finances effectively.

The system allows exchange companies to electronically send money transfer requests along with the required data and documents to Cairo Amman Bank through the SWIFT system. Bank audits then receive the information and verify its compliance with the anti money laundering regulations issued by the Central Bank of Jordan.

Thereafter, the requested amounts of cash are deducted from the company's account at the bank, and the money transfer request is executed automatically.

The implementation of this system comes in line with the bank's strategic expansion plans and its ongoing efforts to adopt the latest banking solutions to better serve both individuals and organizations and meet clients' growing needs.

EastNets is a leading global provider of compliance and payments solutions and services enabling confidentiality for financial, corporate and government sectors. It is renowned for providing services to more than 1000 clients across 120 countries, with a staff of over 300 employees.