Commercial Bank Enhances Customers' Awareness of Their Banking Rights in 'Let's Be Informed' Campaign

In line with its ongoing commitment to enhancing the financial and banking literacy of its customers, Kuwait Finance House continues its participation in the “Let’s Be Informed” 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.

Guided by the directives of the Central Bank of Kuwait and the implementation of the Bank Customers Protection Guide, Kuwait Finance House has established a specialized Complaints and Customer Protection Department. This department serves as an independent and effective communication channel aimed at receiving customers’ contractual complaints, addressing them, and resolving them with the highest degree of speed and impartiality, within specified timeframes and precise standards that ensure customers receive full resolution of their complaints and the full realization of their rights. Additionally, it 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 key principles such as the protection of banking confidentiality, data and information privacy, procedures for dealing with minor customers, persons with disabilities, low-income individuals, and domestic workers, as well as procedures for responding to customer complaints. Through the implementation of this comprehensive guide, Kuwait Finance House seeks to enhance financial inclusion and deliver 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. It consistently emphasizes the importance of informing customers about the terms, conditions, fees, and commissions associated with banking services and products, and their suitability to customers’ needs and obligations, before they avail themselves of these services.

In this context, the bank highlights customer awareness on several important 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 senior citizens, 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 and stresses the importance of investing only with entities licensed by regulatory authorities to avoid financial fraud.

Kuwait Finance House 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 targeted messages, 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, Kuwait University, private universities, and the Diwaniya Al-Kuwait, to promote financial and banking literacy and inform the public of their rights and obligations, empowering them to make informed and responsible decisions when dealing with banks and financial institutions.