Kuwait News

Central Bank protects clients against fraud

KUWAIT: Central Bank of Kuwait officials hold a press conference during the launch of an awareness campaign yesterday. – Photo by Yasser Al-Zayyat

KUWAIT: Deputy Governor of the Central Bank of Kuwait Yousef Al-Obeid yesterday affirmed the bank’s long-standing policy of protecting clients from fraud and high-risk investments. Speaking at a news conference marking a campaign themed “Let’s be aware”, Obeid said the Central Bank’s measures in this regard have drastically cut the number of such acts of deception.

Moreover, the Central Bank has protected banking institutions and individuals against high-risk investments such as suspicious transactions in digital currencies like bitcoin. Obeid added the Central Bank has a policy to educate the public against excessive consumption and guides them toward saving.

Obeid noted the campaign was supposed to launch last year, but global health conditions led it to be postponed until this year. He said the Central Bank has been launching several awareness campaigns in the belief in the importance of the role of the media in shaping knowledge among consumers.

Obeid said the campaign’s objectives include strengthening basic principles and concepts in the banking field, facilitating customers to use banking services in the best way and enabling them to benefit from the services provided by banks, as well as increasing the level of financial inclusion and promoting financial and economic stability.

He pointed out that the campaign will continue throughout the year and will include raising awareness of the mechanism of filing complaints about banking services, in addition to various bank cards, the most important steps to be followed to avoid exposure to fraud and awareness of risks.

Obeid said the campaign will also include awareness videos and press statements through many channels of communication, especially digital accounts, Kuwaiti banks’ social media platforms and other points of communication with the public, ensuring the wide spread of the campaign’s message and the public’s interaction with it. – KUNA


Source: Kuwait Times

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