Abdullatif Al-Fadhli

KUWAIT: Kuwait Finance House is in the process of the final fulfilment of all requirements of "Bank Customers Protection Guide" issued by Central Bank of Kuwait. The guide includes general principles aiming to support bank customers' protection and provide suitable environment to preserve customers' rights. KFH focused and concentrates on customers' interest and full compliance with the rules and regulations of regulatory authorities e.g. Central Bank of Kuwait which endeavors to achieve the best interest of banks and their customers and provide protection through highly advanced and prudent regulatory and legal frameworks.

Abullatif Saad Al-Fadli, Head of Customers Complaint Unit at Kuwait Finance House stated in a press release that: "Bank Customers' Protection Guide" comprises significant instructions and regulations which are complementary to previous regulations issued by CBK. Accordingly, KFH has updated or established new policies, procedures and bylaws to cope with the requirements contained in the guide and place them under execution for employees and customers awareness.

Al- Fadhli reiterated that the guide has been uploaded on KFH website (kfh.com) to enable employees and customers to have an easy access to the guide and be aware of its contents including customers' obligations and liabilities. An awareness campaigns is being arranged where social media is used to spread awareness among customers concerning the guide articles and objectives. Due coordination and preparations are being carried out to launch training campaigns and workshops including most employees as part of the guide execution process. Accordingly employees shall be aware of the guide instructions.

Al-Fadhli praised the guide and urged all customers to read it and know their rights upon execution of any transaction with the bank. The guide comprises 10 major principles including "Equality and Justice": All banks shall ensure in all transactions with customers that transactions are being executed based on justice, equality, fairness and honesty without any discrimination, "Disclosure and Transparency": Banks are required to provide customers with all information related to services and products with in a simple and accurate manner to ensure that customers are aware of all advantages and risks involved. Other principles include financial awareness and educations, compliance with professional behaviors, protection of customers against fraud, protection of privacy and information confidentiality, provisions of safe electronic systems, processing customers' complaints, observing competitiveness and conflict of interests and protection of customers against foreign support operations.

Regarding Customers' Complaints Unit role, Al-Fadhli reiterated that CBK instructions demand that Customer Complaints Units shall investigate the bank's compliance with the customer protection guide. The unit shall operate independently to process customers; complaints with great professionalism. This unit shall handle KFH relations with its customers with great professionalism. The unit shall enable all customers to raise their complaints and present their suggestions to KFH through various channels including complaint boxes, direct contact and personal visits to head office and branches or through electronic channels including kfh.online. The unit shall process such complaints and prepare written replies and hand them over to customers.

The unit shall apply CBK approved mechanism to deal with customer complaints according to CBK instructions. The unit coordinates with other concerned departments and provides approved complaint forms with the unit correspondence address in a visible place at  KFH head office banking hall and at all branches.