CAC International Bank was founded in 2009, in the Republic of Djibouti, and has been since offering a wide range of outstanding products and services that cover commercial and corporate banking, retail, personal banking and private banking.
Over the past few years, the Bank has grown to be one of the leading financial Institutions in Djibouti under the guidance and control of a highly experienced Board of Directors.
The Bank attributes its success to two key components; a premium customer service which resulted to building close relationship with the customers, and tailored products to meet their specific needs.
Service, quality, integrity and reliability are the bank’s competitive advantages.
Setting itself as a trendsetter and a role model in the Djiboutian banking sector, CAC Bank is second-to-none when it comes to the adoption of technology, with a variety of tailored products and services that improve its customers’ experience.
Being the first bank to introduce e-Banking, Mobile banking as well as Cash Deposit Machines (CDM) that accepts cash and cheques in dual currencies here in the Djiboutian market, this has given CAC International Bank a significant edge over all the other banks in terms of coverage and they have retained this position to date.
CAC International Bank has the highest number of ATMs (22 ATMs) strategically located across Djibouti that dispenses dual currencies i.e.: Djiboutian Francs (DJF) and United States Dollars (USD). Included in some of the busiest spots in the city, like Djibouti Palace Kempinski & Sheraton Hotel (two of Djibouti’s leading International Hotels). These ATMs accept all types of cards ranging from Union Pay, JCB, MasterCard, Visa, to Maestro as well as cards issued by Armed Forces Financial Network (AFFN).
The state of the art digital products provide their customers an option to go paperless while contributing to environmental actions and organize all their finances online. The products and services reflect a commitment towards the customers to always meet and exceed their expectations.
The e-Banking service allows their esteemed customers to transact securely on the platform by offering them a triple security for all transactions if they so desire i.e.: Maker / Checker or Approver / Authorizer. The bank proactively upgrades its digital products on a regular basis to ensure a seamless experience for all of their users. During the COVID lockdown, the electronic products were highly appreciated by all customers and clients as it provided them with uninterrupted banking services.
RECENT PROJECTS
In early 2020, the bank launched a Commodity Financing Facility (CFF) wherein they facilitate financing to importers of various goods to Djibouti. This enables them to import beyond their normal capacity thereby enjoying economies of scale.
Moreover, the implementation of an Online Payment Gateway for Djibouti Port Community Systems (DPCS), which the bank is an active participant, provides payment of port services online instead of having to physically move to a branch. These 2 services have allowed the branch located inside the Djibouti International Free zone to effectively serve and guide customers in the business of trade while contributing in the economy of the East African region.
In 2021, they launched a new and innovative payment method: CAC PAY BANKI, developed by their in-house IT Team. It is a QR based payment service integrated into their already existing CAC Mobile application. This contactless payment method provides added safety to customers during the global pandemic, and has revolutionize the payment system for goods and services in Djibouti.
The service allows users to pay simply by scanning a QR code; the amount is then instantly debited from the user’s account without any additional charges and credited into the merchant’s account. This method of payment is a modern and efficient way of conducting business for all our clients.
Additionally, the bank developed a CACPAY BANKI app specifically designed for merchants that are receiving the transactions, split into two access levels within one application, the Cashier and the Merchant.
The difference between these two, is the fact that the Cashier’s interface allows the user to view all the transactions executed on the day. On the other hand, the Merchant’s interface allows the user to have an overview of all the cashiers’ transactions, with the ability to activate and deactivate any cashiers, while also viewing the daily dashboard, all within the same app.
COMMODITY FINANCING
With Djibouti being a strategic hub in the East African Zone, the Bank has planted a Free Zone branch located at the heart of the Djibouti Free Zone, facilitating an easy and reliable way for businesses to fulfil all their banking needs within the Free Zone. Opening a Free Zone bank account is an integral step for businesses interested in international trade.
Trade & Commodity finance operations are a global activity that remain the primary purpose of the CAC International Bank free zone branch.
They complement and support global end-to-end commodity flows to offer new opportunities for businesses around the world and supply a wide range of world-class financial services, trading resources and investment platforms. They also guarantee an easy access to a variety of facilities and the requisite support for customers’ needs.
CORPORATE SOCIAL RESPONSIBILITY
CAC International Bank’s corporate social responsibility forms an integral part of their identity. The yearly goals set have continued to show their responsibility towards the Djiboutian population. The bank is invested in the communities and makes it their responsibility to help the less fortunate by meeting communities in the countryside regions and supporting them through the distribution of necessities.
Sponsoring different causes is what allowed the bank to touch the lives of people in the rural areas of the country, specifically orphaned kids and students.
Additionally, the bank is engaged to facilitating medical tourism for those needing access to the health care system, sponsoring sporting events, drawing and painting competitions for the Rotary Club of Djibouti as well as the Lions Club of Djibouti.
CAC International Bank have set itself a goal of helping disabled people integrate into society.
COMPLIANCE
AML has become a major compliant solution among global and regional banks and financial organisations. Through the implementation of an abreast AML solution, CAC International Bank monitors and flags sophisticated malicious activities and conduct enhanced customer due diligence to reduce the overall risk associated with digital and traditional banking activities in real-time.
UNIVIUS AML, with its advanced predictive analytics and streamlined compliance management tools enables CAC International Bank to meet its regulatory obligations and optimise business performance. The system will analyse SWIFT traffic, risk indicators and Know Your Customer (KYC) data to detect anomalies signalling suspected money laundering schemes in correspondent banking transactions.
MR. AHMED H. AL DHEEB, CHIEF EXECUTIVE OFFICER
Having an experience of more than 30 years in the Banking industry, Mr Ahmed H. Al Dheeb has continuously proven that his ambition and dedication will lead CAC International Bank to one of the leading banks in Djibouti.
The constant re-evaluation of customer needs, investment options and new technology-based products have allowed him to set a high standard for all the active stakeholders in the bank.
His focus on building workplaces that are supporting, forward-thinking, innovative and inclusive have reflected positively on the customer experiences. Investing heavily in staff development and training gave CAC International Bank the best customer service teams in all their branches.
Nevertheless, the immense pressure is not just to meet all of these responsibilities, but to display leadership while doing so.
CAC International Bank has been recognized as a leader in financial services, including on Global Finance Magazine. The bank has been awarded the “Best Bank” and “Best Digital Bank in Djibouti” since 2019. In the year 2021, the bank received the award of the “Best Corporate Mobile Application in Africa”. These recognitions go without saying that the dedication and the advanced technology systems have paid off for CAC International Bank.
In fact, the CEO shared the following quote:
“FINTECH is giving a great value to consumers by providing easier banking solutions. Financial Institutions must embrace technology in order to meet the unique and growing needs of customers in a highly competitive industry”.
It goes without saying that the long term goals of Mr. Ahmed H. Al Dheeb CEO of CAC International Bank are set to keep growing, innovating and maintaining the competitive advantage the bank is holding.
