KUWAIT: National Bank of Kuwait (NBK) paid a special visit to Al-Ghanim Bilingual School in Salwa to assess the progress of the "Bankee” program, marking its official launch in the current academic year.
NBK executive management conducted a school tour to observe key advancements in the implementation of the "Bankee” program across Kuwaiti schools. This initiative seeks to raise awareness and foster financial literacy among students in both public and private schools. The program is carried out in collaboration with the Ministry of Education, the Anti-Corruption Authority "Nazaha,” and Creative Confidence.
The visitors included Shaikha Al-Bahar, Deputy Group CEO at National Bank of Kuwait, Dr Salman Al-Lafi – Assistant under Secretary of Private and Qualitative Education and Eng Abrar Al-Hammad, Assistant Secretary-General of the Prevention Sector at Nazahaand Sumayah Al-Jasem, Founder, Managing Director at Creative Confidence.
The school’s program managers briefed Al-Bahar on the students’ engagement with the unique content of "Bankee” program. They discussed details related to the program’s application, including the virtual bank experience enabling students to have a financial account and trade using the virtual currency "Bankoz.” The students earn rewards by accumulating program currency in their accounts.
Al-Bahar visited several classrooms to observe how the program has integrated into students’ daily routines, witnessing firsthand the awards given for exceptional performance and behavior.
The visit attracted a significant number of parents who engaged with their children, discussing the program’s features. Al-Bahar expressed her satisfaction with the notable progress of the Bankee program, highlighting the excellent engagement from the entire system, including schools, students, and supportive parents who have embraced the idea since its inception.
Al-Bahar emphasized that the Bankee program aligns with NBK’s overarching commitment to promote financial inclusion across all societal segments. She stressed the importance of supporting initiatives that empower children to manage their financial resources effectively, enabling them to build a secure future for themselves and their families.
Al-Bahar expressed that NBK, driven by a sense of national duty and responsibility, is committed to leveraging its unique capabilities and extensive financial experience. This commitment aims to make a substantial contribution in promoting awareness of financial stability and independence among the present generation of Kuwaiti youth. "Comprehensive financial education not only opens doors but also plays a crucial role in fostering the long-term well-being of individuals, families, and communities. Increased financial literacy serves as a foundation for both personal and national prosperity,” Al-Bahar said.
"Empowering our children with financial knowledge is an investment in our future. Equipping them with the skills to make informed financial decisions sets them on the path to success and prosperity,” Al-Bahar added.
Al-Bahar also emphasized NBK’s strong belief that the youth are the future leaders of our nation, and the bank’s aims to play a key role in their development journey by imparting valuable lessons on managing money wisely. The success of the program in the pilot phase has garnered interest from schools and students, prompting the initial registration of 30 out of 150 applicants. Additionally, a special needs school (Joan Al Kuwait Elementary School) has also joined "Bankee” program.
Over 16,000 students are currently benefiting from the program, with the active involvement of 3,000 teachers. "Bankee” program has expanded its reach by launching its website in both Arabic and English. Additionally, it has established a presence on various social media platforms such as Instagram, TikTok, and YouTube. These initiatives aim to facilitate access for all participants to the program’s content, activities, and events taking place in different schools throughout the year.
NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee program. This recognition signifies the bank’s commitment to incorporating innovations that integrate sustainability and environmental, social, and governance standards into its activities.
"Bankee” stands as the pioneering program launched by NBK, designed to contribute to financial inclusion within the community. Specifically tailored for students in schools, the program seeks to enhance levels of financial literacy, ensuring sustainable improvement for the future. NBK officially inaugurated the program in October in collaboration with the Ministry of Education and Nazaha.
The program’s objective is to familiarize students with fundamental economic concepts and practices, including earning, spending, saving, and financial responsibilities. This is achieved through the implementation of a classroom system that mirrors the real economic environment, employing practical methods within an interactive setting.