Cairo – Mubasher: The National Bank of Kuwait (NBK) in Egypt (NBK-Egypt) announced the launch of its new “NBK EG Wallet” application for IOS and Android smartphone users.

Available in both Arabic and English languages, this new service comes in line with the Central Bank of Egypt’s (CBE) directions to transform into a digital economy.

The “NBK EG Wallet” service offers the bank’s users a unique and easy-to-use banking experience; customers can easily transfer money to their e-wallets through their bank accounts, according to a press release on Monday.

NBK EG Wallet users can also inquire about various invoices and settle the required bill payments to various merchants, including telecommunication companies, internet service providers, utilities, power, traffic fees and much more.

Furthermore, the users can do the payment of donations, subscriptions, insurance premiums, ticket purchase, and a wide range of other services through this new app.

The customers can also deposit and withdraw cash from ATMs and branches which support this service, in addition to transferring funds between account holders who use NBK EG Wallet inside Egypt.

“Launching “NBK EG Wallet” reflects our firm belief in the importance of technological development and the need to adopt the latest innovative mechanisms due to their significant role in developing the banking sector,” NBK Egypt’s alternative channels manager Michael Asaad commented, stressing on the bank’s keenness to enhance its competitive advantage as a pioneer through expanding its online banking services.

Asaad highlighted that this step comes within the framework of the CBE’s directions towards becoming a cashless society and supporting the government’s efforts to achieve financial inclusion.