National Bank of Kuwait (NBK) Egypt inked on Wednesday a cooperation protocol with the Egyptian Banks Company for Technological Advancement SAE (EBC), which allows NBK Egypt to launch the “Meeza” prepaid card.
The protocol was signed by Head of Business Group at the NBK Amr El Alfy and Executive Director of EBC Ahmed Rabea.
Through this action, NBK will be the second bank that is operating in Egypt to launch Meeza cards after the National Bank of Egypt (NBE).
NBK’s Egypt Vice Chairman, Managing Director and CEO Yasser El-Tayeb said that the move aims to boost the bank’s range of banking products, which contributes to expanding the umbrella of using electronic payment instruments and channels.
He added that the issuing of the card is consistent with the Egyptian government’s and Central Bank of Egypt’s (CBE) policy of supporting financial inclusion and integrating new categories of customers in the official banking system.
“This will help in the implementation of cash withdrawal transactions and the enforcement of the digital cashless society plan as one of the objectives of the sustainable development strategy in line with the vision of Egypt 2030,” said El-Tayeb.
El-Tayeb further noted that NBK Egypt injects great investments to develop the electronic payment channels, adding that this is part of the bank’s endeavor towards product integration between NBK Egypt and the parent group in Kuwait in a way to promote the bank’s competitiveness in the Egyptian market.
For his part, El-Alfy said that the Meeza card represents a new link in NBK Egypt’s advanced electronic services chain, which enables customers, whether individuals or companies, to perform a variety of banking transactions.
“An example of these services is the recent approval obtained from the CBE to launch ‘NBK Online Services for Companies,’ which is in line with the previously launched service for individuals ‘NBK Online Banking,’ which allows individuals and companies to manage their commercial activities and banking transactions, in addition to performing several banking services via internet without the need to visit bank branches,” according to El Alfy.
NBK also announced its intention to expand its presence in the Egyptian market by opening new branches and developing the network of the existing branches.
Salma Abou Hussein, NBK’s Head of Consumer Banking, stated that launching the Meeza card will be used to pay the different government fees as well as cash withdrawal from the ATMs of the different Egyptian Banks, adding that it also enables its holder to charge the card’s balance through different payroll companies.