National Bank of Kuwait (NBK) has launched an innovative package of services for its current and prospect non-resident Egyptian clients living in Kuwait as well as Kuwaitis with business interest in Egypt.

A leading bank in Kuwait and the top rated in the Middle East, NBK, said the new service will be introduced through NBK's largest subsidiary Al-Watany Bank of Egypt (AWB).

NBK deputy chief executive officer and chairman of AWB, Shaikha Khalid Al Bahar, said the new package of products and services associated with the certificate of deposits (CDs) were basically targeted at Egyptian expats in Kuwait apart from Kuwaitis with business interest in Egypt.

Al Bahar pointed out that NBK, in full co-ordination with AWB, had made the necessary arrangements to ensure that all clients' present and future financial requirements were statisfied.

She said AWB, with its 30-branch network strategically located in the most vibrant spots across Egypt, from Cairo and Alexandria, to Giza, Mansoura and Sohag, is well known and now the Egyptian community can subscribe for the CDs through NBK branches.

AWB managing director Dr. Yaser Hasan, said, 'Clients looking to invest in the CDs will be able to remit funds to their AWB accounts and will be given a Visa Electron Cards, while clients with investments over 100,000 Egyptian pounds will get a safe deposit box for the first year in addition to being allowed to obtain a loan or a credit card up to 80 per cent of the CD value.'

'The subscription to the CDs is open from June to August 2009', he added.-TradeArabia News Service