Source : Staff

KUWAIT: National Bank of Kuwait (NBK) announced the launch of NBK Kuwait Market Online Trading Service, which enabled NBK clients to participate in the trading transaction whenever they may be. The NBK Kuwait Stock Market online trading service was launched in Kuwait yesterday in cooperation with Kuwait Finance and Investment Co (KFIC) at NBK headquarters in Sharq. KFIC will serve as their service provider and outsourcing network for the new NBK service. Online trading service allows NBK clients to directly transfer funds from NBK account to a trading accounts and vice versa, without additional charge. The new service also allows investors to check their equities prices and portfolio status on the so-called 'Mudawi screen' via KFIC-free of charge. "The new service is another manifestation of NBK's commitment to provide the best investment services," noted Adel Majed, NBK Group General Manager Consumer Banking during a press conference announcing online trading service. Majed stressed NBK's continues its effort to provide its customers with best investment services and tools, which strengthen their unique position as the leading local and regional financial institution. Salah Al-Fulaij, Group General Manager Investment Services and Treasury commented, "New service paves the way for further expansion of online trading services to cover all the region's stock markets which enabled us to provide our customers with online international security trading services since the year 2000." Fujail added that a team of highly experienced brokers has been formed to answer all inquiries through their hotline, 803111. Asked if non-NBK clients could use the new service. "No, one should be an NBK client because financial transaction will be processed through us," Majed pointed out. KFIC Vice-chairman and Managing Director, Abdul Rahman Al-Saeed was delighted at NBK's new service and expressed support to the new tie-up agreement. He explained that trading via KFIC 'Mudawi' system is based on stable platform that has been tested for quite sometime and is in line with the highest standards security and confidentiality, which allows investors to make the right investment decisions even at the comfort of their home and offices.