Boubyan Bank Launches Petty Cash Card
Boubyan Bank has announced the launch of (the Corporate Petty Cash Card) which is considered the first of its kind in Kuwait. The card helps companies control their daily expenses or what is known as “petty cash” which is usually maintained by some of the company’s staff aiming at managing the daily affairs and transactions as required by the ongoing company’s needs.
Mr. Zaid Al-Sadoun, Executive Manager, Business Banking Unit at the bank, stated: “With the increasing daily movement of cash and companies’ need for cash amounts that help them manage their daily transactions, comes a pressing need for petty cash so that representatives of companies may be able to complete all transactions. However, still there is a risk that money may be lost or stolen or may be subject to any other illegal use by the user.”
“From here, we came up with the idea of the corporate petty cash card which allows companies to give such a card to any of its staff accompanied with a number of controls which may organize their business such as setting a limit for monthly expenses along with many other features which aim at organizing and controlling petty cash.”, he added.
Al-Sadoun went on to add: “This card is available for all Boubyan Bank staff as they may be issued for any number of staff; this helps with expenses’ control as the company will have ongoing and accurate control over its petty cash while setting the plans related to the same, especially that this can be done online. This card can be issued against a KD 10 fee with an annual renewal fee of KD 10 as well.”
Al-Sadoun concluded: “Boubyan is always keen on offering its corporate customers a number of products and services which facilitate their daily transactions in light of the increasing number of transactions while being more keen on information and data security standards and controlling all financial transactions.”