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Tuesday, 21 October 2008 22:43

KUWAIT: The Burgan Bank announced the opening of the Burgan 'Value Account' yesterday. It is a service that is tailor-made to suit the needs of the expatriate community in Kuwait. This account is the first of its kind in Kuwait to offer benefits such as life insurance coverage in association with the Gulf Insurance Company (GIC), attractive currency exchange rates while remitting funds to home countries in association with the Al-Muzaini Exchange Company, a credit card and chances to win cash prizes from m
onthly draws.

The account is a convenient 'all in one' global access account which can be opened by expatriates who do not earn less than KD 200. The Value Account has been created to cater to the customer's financial needs. Multiple benefit package will be offered to them such as life insurance cover from the GIC (up to KD 3000 coverage for death due to any cause and KD 500 for repatriation of mortal remains).

Also, it offers a chance to win a year 's salary from monthly draws (up to a maximum of KD 4000).The account comes with a credit card and a credit limit equivalent to one month's salary, an ATM Visa Electron card that gives access to funds from over a million ATMs worldwide, attractive exchange rates while transferring money from Al-Muzaini Exchange Company using the 'Value' ATM card. Also SMS alert services can be activated when salary is credited to the account and it also facilitates phone banking in or
der to make enquiries. The documents required to open that account are the civil ID card salary certificate and bank statements for the past three months.

In November 2007, the Hawkamah Institute in association with the Union of Arab Banks (UAB) and MasterCard Worldwide acknowledged Burgan Bank as the winner of the region's first ever 'Hawkamah-UAB Bank Governance Award 2007'. Burgan Bank was also acknowledged as 'The Best Local Private Bank' in Kuwait, in the fourth Annual Euromoney Private Banking Survey 2007, which reflects the high standards of wealth management services offered by the bank.

The Bank also holds the distinction of being the only financial institution in the Gulf Cooperation Council Countries to have been accorded the ISO: 9001 re-certification for all banking products and services.

The Burgan value account operates in a customer segment for which not may products exist in the marketplace presently. Based on our research, we've combined financial services that expatriates need most, including life insurance and fund remittance," said Burgan Bank Chief Executive officer Jonathan Lyon.
We are extremely happy to be associated with the Value account launched by Burgan bank for the benefits of expatriates," said Adel Al-Muzaini, CEO of Al-Muzaini Exchange Company. Tareq Al-Sahhaf, General Manager of Gulf Insurance Company said, "We are pleased to have formed a partnership with Burgan Bank through the Value Account launch to offer Life Insurance to the considerably large expatriate community in Kuwait".

 

Sources: Kuwait Times

 

Last Updated on Tuesday, 21 October 2008 22:48
 

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