National Bank of Kuwait (NBK) has signed a strategic memorandum of understanding (MoU) with Kuwait Clearing Company (KCC) to develop the banking services provided by the bank in cooperation with the company.
The MoU aims to further enhance mutual cooperation in developing electronic services, 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.
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 as well as 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.
On this occasion, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait, stated that, “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.”
On his part, Duaij Al-Saleh, CEO of Kuwait Clearing Company, said that, “We are happy to sign this MoU with NBK, which is a key step in fostering mutual cooperation. This memorandum reflects our joint dedication to upgrading financial services, which serves the interests of all parties.”
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