National Bank of Kuwait – Egypt (NBK) signed a cooperation protocol with the Egyptian Banks Company for Technological Advancement (EBC), on Wednesday, to issue “Meeza” prepaid card.
The protocol was signed by Head of Business Group at NBK, Amr El Alfy, and Managing Director of EBC Ahmed Rabea.
In this regard, Yasser El-Tayeb, NBK – Egypt Vice Chairperson, Managing Director and CEO, said that the move comes along with the bank’s strategy to boost its range of banking products, which contributes to expanding the umbrella of using electronic payment methods and channels.
El-Tayeb added that issuance of “Meeza” card falls in-line with the government’s and Central Bank of Egypt’s (CBE) direction in supporting financial inclusion and integrating new categories of customers in the official banking system. This would help in the implementation of cash withdrawal transactions and the enforcement of digital cashless society plan as one of the objectives of the sustainable development strategy in line with Egypt Vision 2030.
El-Tayeb further noted that NBK-Egypt targets motivating its customers to use the bank’s electronic payment channels, confirming that the bank’s management spares no effort to support these alternative channels. In addition, the bank injects massive investments to develop these channels to satisfy its customers, in addition to providing advanced services meeting all their banking needs. He added 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.
From his side, El Alfy stated that “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 came in line with the previously launched service for individuals “NBK Online Banking”, which allows individuals and companies to perform and manage their commercial activities and banking transactions, in addition to performing several banking services via internet without the need to visit bank branches.
Speaking of the NBK-Egypt’s services and products, El Alfy pointed out that the bank offers its customers, whether individuals or companies, innovative services, and flexible financing and banking solutions fulfilling their needs, including individual loans and real estate financing through the bank’s Consumer Banking business line. It is worth noting that real estate financing increased by 50% during the last period, representing 20% of the bank’s portfolio.
On the other hand, NBK aims at increasing its footprint in Egypt through opening new branches and developing the network of the existing branches.
Meanwhile, Salma Abou Hussein, Head of Consumer Banking, said that launching “Meeza” card is a new addition to NBK-Egypt’s various cards. Consequently, the bank becomes one of the main banks operating in Egypt that offers the smart payment card that holds the logo of the Electronic Payment Network.
She added that card will also be used to pay the different governmental fees as well as cash withdrawing from the ATMs of the different Egyptian Banks. “Meeza card also enables its holder to charge the card’s balance through different payroll companies,” Abou Hussein further explained.