Kuwait, 2 January 2024: Kuwait International Bank (KIB) announced that it was recently named the “Best Bank in Kuwait in Terms of Spreading Financial Literacy and Banking Awareness in 2023” by the World Union of Arab Bankers. The award was presented at the ninth Arab Banks Awards and Commendations of Excellence 2023, organized in Istanbul by the union’s Banking Executive Magazine. 

KIB was crowned with this award following an evaluative decision issued by the awards classification committee, consisting of banking and economic experts from the Arab and international world. The award came as an appreciation of KIB’s positive contribution, cooperation, and effective role in spreading banking awareness and financial culture among various segments of society. In addition, it has been highly committed to providing all forms of support for the “Let's Be Aware” (Diraya) financial awareness campaign for the third consecutive year, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and local banks.

Receiving the award on behalf of KIB, Fahad Al-Sarhan, Senior Manager - External Communication, Marketing and Corporate Communication, said: “This prestigious award serves as clear evidence of the diligent efforts exerted by KIB during the year to promote financial literacy and boost our customers’ benefit from all essential services provided by the banking sector. It also underscores KIB's role in supporting the ‘Let's Be Aware’ (Diraya) campaign, in addition to harnessing all its resources to achieve wider dissemination of campaign materials and contributing to its goals. The Bank’s strong performance and dedication to achieving the campaign's objectives led to it receiving an evaluation of ‘above the required level’ from the Central Bank of Kuwait.” 

Al-Sarhan added: “KIB continues its commitment to its pioneering role in community awareness, stemming from the fact that financial literacy is a fundamental component of the Bank's comprehensive social responsibility program. During the current year, KIB has disseminated educational messages through its various social media platforms. It has also organized numerous events and was present through dedicated booths in strategic and prominent locations, to reach a wider customer base and create interactive environments for greater engagement with the public. This direct communication allows us to introduce banking services and products and educate the public about best practices to prevent falling victim to fraudulent activities.”

Furthermore, he pointed out that through these activities, KIB has aimed to raise awareness about the importance of what the banking sector has to offer, including products, services, and solutions, as well as educating customers about their financial and banking rights and responsibilities. This includes various financing methods, different types of bank cards, diverse investment programs, and how to avoid falling victim to any financial fraud. Additionally, KIB has been focused on educating customers about the secure usage of bank cards, applications, and electronic channels provided by the Bank.
It is important to mention that the World Union of Arab Bankers, headquartered in the Lebanese capital Beirut, comprises more than 500 members from the Arab banking sector. The organization publishes The Banking Executive Magazine, which began organizing the Arab Banks Awards and Commendations of Excellence in 2015. It has since become one of the most prominent events in the Arab banking industry, attended by a select group of chairpersons, chief executive officers, and senior management members. Moreover, it presents annual awards to more than 50 Arab banks.

It also serves to note that KIB is committed to actively playing a leading role in raising awareness within the community about various aspects of the banking sector as part of its comprehensive social responsibility program. Moreover, the Bank continuously strives to understand the needs of its customers and meet their requirements in line with the lifestyle of each faction of society.