KFH kicks off training campaign, workshops
Kuwait Finance House (KFH) has kicked off training campaign and workshops including most employees on applying customers’ protection guide requirements within the framework of educating employees and urging them to comply with the Guide’s instructions towards customers. 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
The training program is fulfillment 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 which endeavors to achieve the best interest of banks and their customers and provide protection through highly advanced and prudent regulatory and legal frameworks.
KFH 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.
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 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.