July 25, 2024

NBK And KCC Partners For Developing ES And Exchanging Tech Expertise

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National Bank of Kuwait (NBK) signed a strategic memorandum of understanding with Kuwait Clearing Company (KCC) to develop the banking services provided by the bank in cooperation with the company.
NBK signed a strategic MoU with KCC to develop the banking services provided by the bank in cooperation with the company. Image courtesy-National Bank of Kuwait

The MoU was signed by Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait (NBK), and Mr. Duaij Al-Saleh, CEO of Kuwait Clearing Company (KCC), at NBK Headquarters in the presence of executives from both parties.

Industry sources added that it focuses on further boosting cooperation in developing electronic services (ES), in a way that helps speed up operations and minimize associated risks, in addition to automating the services provided by each party to the other.

NBK signed a strategic MoU with KCC to develop the banking services provided by the bank in cooperation with the company

Industry sources further added that this strategic cooperation between NBK and KCC would pave the way for future projects that help facilitate joint work and improve the services provided to the public. According to the MoU, NBK and KCC will hold periodic meetings to discuss business development opportunities through the exchange of technical expertise regarding the services provided between the two parties, and joint work to develop systems and prepare for related periodic tests, in a way that complies with regulatory requirements.

Under the MoU, NBK and KCC will discuss automating daily reports to minimize manual entry risks and save time and effort, in addition to mutual coordination in training and familiarizing employees with the latest practical and technical developments, thus ensuring having highly up-to-date information.

From L To R – Mohammed Al Kharafi, COO – Head of Group Operations and IT at NBK And Mr. Duaij Al-Saleh, CEO of Kuwait Clearing Company

On this occasion, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait, stated: “Through this MoU, we seek to foster fruitful cooperation with KCC, with a focus on training, automation of daily operations, and working together to develop the related daily routine steps, in a way that streamlines operations and speeds up execution.”

 “At NBK, we are proud of our relationship with KCC, and the signing of this MoU aims to enhance banking services provided in cooperation with the company,” added Al-Kharafi. “One of the key services provided by the bank in this regard is e-Dividends allowing NBK shareholders to receive the dividend payments electronically, without the hassle of visiting KCC Headquarters to receive checks, thus saving their time and effort,” he added.

Al-Kharafi stressed NBK’s dedication to providing the best digital banking solutions, while always striving to develop these solutions to keep pace with the rapid technological advancements in the banking sector, to deliver an integrated banking experience and exceptional services in cooperation with various public and private institutions.

On his part, Mr. Duaij Al-Saleh, CEO of Kuwait Clearing Company, commented: “We are happy to sign this MoU with NBK, which is a key step in fostering the mutual cooperation.”

Al-Saleh extended thanks to NBK for close cooperation and continued support in exchanging experience and knowledge with KCC, adding that “this memorandum reflects our joint dedication to upgrading financial services, which serves the interests of all parties.”

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