Kuwait: Burgan Bank has launched the new Fast International Transfer service in collaboration with MasterCard in Kuwait to offer fast and secure cross-border remittances across the globe. This new service is a step forward in the Bank’s long term transformation plan aiming at integrating more cutting-edge digital services and fintech solutions to enhance its customers’ banking experience.

Through this partnership with Mastercard Cross Border Services, known as “Mastercard send”, Burgan Bank will enable its customers to make instant, secure, and seamless international payments at any time and from anywhere through the Bank’s website or mobile app. The feature represents a significant transfer service milestone, as it connects customers to more than 25 countries with different currencies including Egypt, the United Kingdom, Bangladesh, Sri Lanka, the Philippines, Pakistan, Singapore, Thailand, and the EU countries. The Fast International Transfer service benefits include transparent transfers with no hidden fees, competitive foreign exchange rates, payment tracking, and fast and secure transfers in compliance with the highest global security standards. 

Commenting the launch of the new service, Mr. Deniz Cengiz, Group Chief Digital Banking Officer at Burgan Bank said “Partnering with Mastercard allows us to offer our customers the intrinsic benefits of faster cross-border remittances, which we know are essential for financial inclusion and participation in the digital economy. Thanks to the use of Mastercard’s Cross Border platform, our customers are now able to seamlessly send funds internationally, in real-time and in the most secure way possible.”

About the partnership with Burgan Bank, Mr. Sudhir Iyer, Vice President, Cross Border Services, EEMEA (Eastern Europe, Middle East & Africa) at MasterCard, declared “By teaming up with Burgan Bank in Kuwait, Mastercard Cross Border Services can deploy the simplest, safest and most secure international transfer technology for consumers in Kuwait.”

“The new Fast International Transfer service provides 24/7 access to seamless real-time remittances to more than 25 countries via the Bank’s online and mobile platforms. This is a real game-changer in our pursuit of transparent and secure money transfers, and a major boost to the growth of the digital economy and financial inclusion in our region. Cross border payments can now be delivered much faster with many endpoints enabling near real-time fund delivery” added Iyer.

The launch of the new Fast International Transfer service supports Burgan Bank’s strategic development plan, which seeks to ensure the delivery of more convenient and innovative digital solutions in line with customers' needs and lifestyles.

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About Burgan Bank

Established in 1977, Burgan Bank is currently the third largest bank by assets in Kuwait. From its earliest days, the Bank has significantly focused on the corporate and financial institution sectors, in addition to diversifying its offering to cater to its growing retail and private banking customer base.

Burgan Bank has majority-owned subsidiaries, collectively known as the “Burgan Bank Group”,  in the MENAT region. This Group is supported by one of the largest branch networks across the region and includes: Gulf Bank Algeria – AGB (Algeria), Bank of Baghdad – BOB (Iraq & Lebanon), Tunis International Bank – TIB (Tunisia), and the fully owned Burgan Bank Turkey. Furthermore, Burgan Bank has a presence in the UAE through its corporate office, Burgan Financial Services Limited.

The Bank has continuously improved its performance over the years, through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region. Moreover, Burgan Bank’s brand has been built on a foundation of real values – trust, commitment, excellence and progression – which serve as a reminder of the high standards to which the Bank always aspires. In fact, the Bank’s core philosophy of ‘Driven by You’ is the foundation on which its products and services are continuously developed.

The Bank obtained the ISO/IEC 27001: 2013 Information Security Management Systems certificate (ISMS) and was re-certified with the prestigious ISO 9001:2015, making it the one of the few banks in the GCC and Kuwait to receive such a certification for five consecutive times. The Bank also has the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award for twenty consecutives years.

Burgan Bank is a majority owned subsidiary of KIPCO (Kuwait Projects Company), one of the largest holding companies in the MENA region.