KIB signs first-of-its-kind agreement with CARIRS

The first-of-its-kind agreement is set to facilitate completion of transactions and procedures for this category of customers while also providing them with best banking experience

  
KIB signs first-of-its-kind agreement with CARIRS

Kuwait: As part of its ongoing efforts to provide innovative banking services and solutions to all segments of society, Kuwait International Bank (KIB) recently signed a new agreement with the Central Agency for Remedying Illegal Residents’ Status (CARIRS). The first-of-its-kind agreement is set to facilitate completion of transactions and procedures for this category of customers while also providing them with best banking experience.

In a statement, Othman Tawfeqe, General Manager of KIB’s Retail Banking Department, said: "At KIB, we go above and beyond to meet the needs of all customers and provide them with services and facilities that fit into the lifestyles they lead, hence the idea of inking this agreement with CARIRS to provide innovative banking solutions that facilitate transactions through automated links – a first-of-its-kind initiative in Kuwait.”

Tawfeqe further noted that the agreement is aimed for facilitating banking transactions for Bidoon customers, adding: “A select number of Bank staff will be authorized by CARIRS to access customer data by linking to the central agency’s automated system, thereby reducing paperwork and minimizing the steps required to complete banking procedures, eventually saving time and effort for customers and employees alike."

For his part, Fahad Al-Bader, Assistant General Manager – Operations at KIB, said: "At KIB, we constantly seek to establish a strategy in line with the Bank's operational environment and operational objectives. Our drive to deliver innovative banking services to customers of different segments, particularly this category, led us to sign this agreement with CARIRS, under which some Bank employees will be granted authority to inquire about customer data by looking at ID and health insurance cards by linking to the central computer system."

Concluding his statement, Al-Bader highlighted that the confidentiality of customers' personal data and bank account information is at the forefront of KIB’s priorities and represents the core of the Bank's operational continuity, adding: “The Bank will nominate a number of its employees who will be meticulously authorized to inquire about customer data after obtaining CARIRS’s approval, thus demonstrating the Bank’s obligation towards preserving banking secrecy and not disclosing information to third parties."

CARIRS is responsible for addressing the situation of the illegal residents of the country (i.e. the Bidoon category) as well as implementing the decisions issued in this regard. Moreover, it is in charge of liaising with the concerned authorities and following up on the decisions and special recommendations issued by the Cabinet, in addition to drafting laws related to this category and putting forward procedures relating to remedying their situation in the context of solutions, laws and decisions adopted. The agency is also entrusted with the task of providing suggestions and liaising with ministers and officials in all governmental and non-governmental organizations in order to create conditions conducive to the successful completion of illegal residents’ paperwork.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases