"We are very glad to inaugurate this major step forward with Banque Misr", said Mr. Obaid Bawany, Head of UK & EMEA Marketing at JCB International (Europe) Ltd. based in London. "By partnering with Banque Misr, we will be seeing significantly expanded JCB acceptance which will double the number of merchants accepting the JCB card in Egypt. This means a significant upgrade in convenience for JCB cardmembers."

Banque Misr, established in 1920, has 11,000 merchants covering 60% of international brand card accepting merchants in Egypt, including hotels, restaurants and other locations frequently visited by tourists.

Mrs. Hoda Shoukry, General Manager, Head of Retail & Card Division at Banque Misr, said, "By partnering with JCB, we are able to meet our merchants' needs in serving Japanese travelers, as well as travelers from other Asian countries. Cairo is a particularly popular destination, with more than 5000 years of history, and has been the central focus of the JCB merchant network in Egypt until now."

Banque Misr will be expanding JCB acceptance to Luxor, famed for the Temples of Luxor and Karnak among other awe-inspiring monuments of ancient civilization, and to Aswan, the winter resort with a dry, temperate climate. This wider JCB acceptance will enhance the usability and value of the JCB card.

In 1994, JCB signed a merchant acquiring contract with Arab African International Bank in Cairo. Followed by the partnership with Banque Misr, JCB brand business in Egypt continues to grow in the major cities of Cairo, Luxor, and Aswan.

Japanese tourists to Egypt in 2003 numbered about 60,000, which is 12.6% more than the previous year according to the Japan National Tourist Organization (JNTO), and continued growth is expected.