Raya Information Technology (Raya IT) has won a contract worth $10 million from a state-owned bank to provide 500 ATMs across various areas and neighbourhoods in Egypt, a report said.

The contract includes the provision of ATMs in addition to a set of software programmes for networks, which will ensure these machines connect directly to the bank, Hisham Abdel Rasoul, CEO of Raya IT, was quoted as saying in a Daily News Egypt report.

He said that these machines will be distributed across Egypt, and that the company has provided these machines to other banks working in the local market.

Abdel Rasoul added that Raya IT is the only Egyptian company that provides ATM services for banks, and provides all the integrated IT system network solutions.

He also noted that the company has a set of integrated solutions for software networks, which allow banks to communicate electronically with the largest number of branches.

Raya IT is a subsidiary of Raya Holding, which operates in the electronics and information technology field, as well as call centres and smart buildings, and owns a diversified investment portfolio.