ArabFinance: The National Bank of Kuwait - Egypt (NBK Egypt) (NBKE) signed a cooperation protocol with the Egyptian Banks Company for Technological Advancement (EBC) to launch Meeza prepaid cards, according to a Septemeber 16th email statement.

The cards will be used to pay the different governmental fees as well as cash withdrawing from the ATMs of the different Egyptian Banks, NBK Egypt Head of Consumer Banking Salma Abou Hussein said.

She added that Meeza also enables its holder to charge the card’s balance through different payroll companies. 

Meeza is the latest financial inclusion initiative by the Central Bank of Egypt (CBE) to push towards more cashless payments in Egypt. It aims at issuing 20 million Meeza cards within the next three years.

NBK Egypt posted a net profit of EGP 753.487 million in the first half of 2020, a 28.5% decline from EGP 1.054 billion reported in the prior-year period. 

NBK Egypt, formerly Al Watany Bank of Egypt SAE (AWB), is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services. The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.