GiroNil, is an Egyptian joint venture founded in 2005 by Banque MISR, Egypt Post, Commercial International Bank (CIB), and a European Partner. The company was established primarily to operate and manage an intrabank infrastructure for funds transfer, bill payments and collection. GiroNil, with its expertise, is capitalizing on more than 40 years of experience in operating the proven total ICT solution map for electronic and paper based payment clearing in Europe. GiroNil’s mission is to introduce the paper based Giro concept, for the first time in Egypt and the Middle East, as the secure nucleus for an efficient payment and collection clearing in a developing economic order. It plans to release the power of modern financial services to all Egyptians through a diversified service portfolio ranging from the simple payment processing of a bill for the individual, to the mass processing of millions of payments e.g.: salary and pensions, and the distribution of millions of bills, e.g.: utilities, telecom subscriptions, etc..