Page 27 - SAMENA Trends - February 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain and Commercial Bank of Kuwait Sign MoU to
Offer Cloud Solutions and Data Center Services

As part of the joint collaboration between
the Commercial Bank of Kuwait and
Zain, the leading digital service provider
in Kuwait, the two companies signed a
Memorandum of Understanding (MoU)
through which Zain will offer CBK the latest
cloud solutions, data center services, and
the most advanced security solutions to
drive the bank’s digital transformation
efforts. The MoU signing ceremony was
held at CBK’s main headquarters in Kuwait
City in the presence of CBK Chairman Sheikh
Ahmad Duaij Jaber Al Sabah; Zain Vice-
Chairman and Group CEO Bader Nasser Al-
Kharafi; CBK CEO Elham Yousry Mahfouz,
Zain Kuwait CEO Eaman Al Roudhan, as
well as the executive management teams
from both companies. As part of the MoU,
Zain will offer innovative cloud solutions financial services institutions in particular, technological advancement, the Bank
to revamp CBK’s integrated digital and it is important we have robust systems endeavors to cooperate and partner with
infrastructure. The solutions include Zain in place to be able to store, access, digital service and solution providers in
Business Data Center (ZBDC) services retrieve and restore data.” On his part, Kuwait, particularly Zain – the leading
such as data storage and industry- Sheikh Ahmad Duaij Al Sabah, Chairman, IT solution, communication and cloud
leading security and connectivity. The Commercial Bank of Kuwait said: “we computing provider,” stated Sheikh Ahmad.
agreement also includes network cabling are proud to sign this Memorandum of Sheikh Ahmad further explained that banks
and management services, connectivity, Understanding where Zain will provide endeavor to leverage their technology
CCTV, service management, and more. the Bank with innovative cloud solutions, platforms through capitalization on Online
Zain Vice-Chairman and Group CEO Bader Zain Business Data Center’s services Banking and Mobile Banking to enhance
Nasser Al-Kharafi said “We applaud CBK, and information security solutions. This their digital presence, stressing that this
a well-regarded and successful entity partnership reflects the Bank’s efforts mutual cooperation between the Bank and
in Kuwait, for proactively assessing its towards digital transformation and the Zain will contribute in improving the Bank’s
transformation roadmap to digitization employment of sophisticated technology digital infrastructure. Sheikh Ahmad
and are honored to enter this milestone systems with a view to keep up with the emphasized that developing the banking
MoU with them. Storing digital assets latest digital innovation technologies”. services through employing the latest
securely and efficiently is becoming a key “Given the digital transformation seen digital technologies shall reflect positively
differentiator to businesses in general, and in the banking industry and accelerating on our customer base on one hand and
on the service & product offering to our
retail and corporate customers in such
a way that would satisfy their ambitions
and live up to their expectations and cope
with the advanced services offered by
banks over the globe. It is worth noting
that the innovative cloud solutions and
Zain Business Data Center services are a
vital tool towards digital transformation
to boost the Bank’s efforts towards Hi-
Tech Banking & digital innovation without
compromising on the security and
confidentiality of information.

27 FEBRUARY 2020