Commercial Bank enhances banking awareness within 'Let's Be Aware' campaign

In line with its continuous commitment to enhancing financial and banking literacy among customers, Kuwait Finance House (KFH) continues its participation in the “Let’s Be Aware” campaign, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banks Association and Kuwaiti banks, by informing customers of their rights and obligations when dealing with banking and financial institutions.

In compliance with the Central Bank’s directives and the implementation of the Bank Customers Protection Guide, KFH has established a specialized Complaints and Customer Protection Department to serve as an independent and effective communication channel aimed at receiving customers’ contractual complaints, addressing them, and resolving them with the utmost speed and impartiality within specified timeframes and precise standards that ensure customers have their grievances handled and their rights fully upheld. Additionally, the department provides necessary guidance on how to benefit from banking services, thereby strengthening customer trust and engagement with the bank.

The Bank Customers Protection Guide, published on the bank’s website, includes important principles such as the protection of banking confidentiality, data and information privacy, and procedures for dealing with minor customers, persons with disabilities, low-income individuals, and domestic workers. It also outlines procedures for responding to customer complaints. Through the implementation of this comprehensive guide, KFH seeks to enhance financial inclusion and provide integrated banking services that align with international best practices and banking standards.

The bank believes that awareness of banking rights is a fundamental pillar for making informed financial decisions. Therefore, it consistently emphasizes the importance of customers reviewing the terms, conditions, fees, and commissions associated with banking services and products, and assessing their suitability for their needs and obligations before obtaining them.

In this context, the bank highlights customer awareness on several key topics, including loan approval procedures and the customer’s right to review draft contracts during the review period, giving customers the opportunity to consider and examine contracts before signing. The bank pays special attention to banking services provided to the elderly, persons with disabilities, and those with special needs, and warns customers about the risks of loan fraud. It also clarifies concepts of investment and savings, stressing the necessity of investing only with entities licensed by regulatory authorities to avoid financial fraud.

KFH encourages its customers to familiarize themselves with the details of banking services and products, and not to hesitate in contacting the bank for necessary clarifications before making any financial decision. The bank disseminates media materials, including articles, images, videos, brochures, and messages targeted at the public, to achieve its awareness objectives.

Furthermore, the bank participates in numerous events and activities and organizes awareness lectures in collaboration with civil society institutions, such as ministries, government entities, the University of Kuwait, private universities, and Kuwaiti diwaniyas, to promote financial and banking culture and inform the public of their rights and obligations, empowering them to make informed and responsible decisions when dealing with banks and financial institutions.