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Gulf Bank says it has migrated its MasterCard-branded debit cards from magnetic stripes to chips enabled with the global EMV anti-fraud protection. The Kuwait-based financial institution says it completed the work under pressure from the country's central bank, which wants Kuwait's financial institutions to migrate to EMV chip cards by June. Issuers throughout the world, with the exception of the United States, have moved toward EMV chip cards over the last few years to combat fraud. Gulf Bank's debit cards will have both chips and magnetic stripes, the bank says in a statement. Gulf Bank did not detail the size of its card base, and spokespeople for the financial institution did not respond to a CardLine Global request for comment.
