Kuwait Credit Bank and International Bank of Kuwait Sign Electronic Linking Cooperation Protocol
Kuwait Credit Bank signs a cooperation protocol for electronic linking with the International Bank of Kuwait to facilitate payments.
Translated by Qiyas from الراي — Original source
As part of the partnership and enhancement of cooperation between the public and private sectors, Kuwait Finance House (KFH) announced the signing of a cooperation protocol for electronic integration with Kuwait International Bank (KIB), to facilitate and directly transfer housing and social payments and loans to citizens.
In a press statement on Monday, Acting General Manager of KFH Sultan Al-Dabbous said that signing this agreement is a continuation of the efforts made by KFH to expand its electronic integration network, ensuring complete digital banking coverage and providing the highest levels of flexibility and reliability in serving citizens. It also reflects the executive management’s commitment to providing more efficient and faster services to citizens.
Al-Dabbous clarified that completing the integration with Kuwait International Bank (KIB) marks the final milestone reached by KFH in its project to integrate with all local banks. The number of banks integrated so far has reached nine, listed in order of integration date as follows: National Bank, Boubyan Bank, Kuwait Finance House (Ahli Bank), Kuwait Finance House (Bayt Al-Tamwil), Burgan Bank, Commercial Bank, Gulf Bank, Warba Bank, and International Bank.
He added that this initiative aligns with the government’s direction toward a digital economy and electronic services, contributing to achieving several key objectives and dimensions, including real-time data synchronization, saving time and effort for citizens, enhancing security and reducing check-related risks, promoting transparency and accurate transaction tracking, and lowering operational and administrative costs. He extended his thanks to the participating banks for their cooperation, which contributed to the successful completion of the project.
He noted that this step is part of the bank’s efforts to accelerate digital transformation and develop financial services, reflecting its commitment to providing innovative solutions that prioritize the convenience of Kuwaiti citizens by streamlining procedures. Direct deposits are made into accounts without the need to visit the bank to collect checks, in line with the latest regulatory and security standards implemented in the banking sector.
Al-Dabbous stated that the agreement was signed at the bank’s headquarters in the South Surra building, in the presence of Fahd Othman Al-Badr, General Manager of Operations at Kuwait International Bank, along with several senior executives from both Kuwait International Bank and Kuwait Finance House.
