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Customer Protection

Rights and Duties of Customers

This page represents a cultural and information tool for ABK customers. It includes the key principles of customer protection, in addition to customer duties and responsibilities which, in turn, improve the level of customers’ awareness about the nature of their relations with the Bank.

Part I: Customers Rights to Be Provided by the Bank

Principle 1: Fair and Equal Treatment

The Bank shall deal with all customers with fairness, equality, and integrity. They have to provide all services and products to all categories of society. They have to consider paying more attention and special care to customers with limited income or education, senior citizens, and those with special needs.

Principle 2: Disclosure and Transparency

The Bank shall provide its customers with correct and detailed information related to services, products, fees, and commissions applied by the Bank. The information shall be sufficient to enable customers to select the best solution suitable for their situation and financial objectives. The Bank shall have an approved policy in this regard. It shall provide such information in all its branches and through other channels of the Bank, such as online banking and telebanking services. The customer shall be provided with a copy of the general terms and conditions related to the banking services and products.

Principle 3: Financial Awareness and Culture

The Bank is careful to develop and share financial and banking information to current and potential customers. It shall set forth the appropriate mechanisms to enable them to identify all aspects related to the banking services or products provided to them, thus helping them to make well-informed decisions. The website of the Bank shall include a special page for financial awareness. This page shall include the Customer Protection Manual, method of submitting a complaint and frequently asked questions and answers.

Principle 4: Professional Behavior

The Bank shall continually enrich the experience of its staff by providing the appropriate training and enhancing their personal capabilities, such as their integrity and being non-biased, to offer customers the best service when dealing with them. The Bank shall comply with professional practices when providing banking services and products to customers.

Principle 5: Customer Protection against Financial Fraud

The Bank has efficient and effective internal control systems and ensures the efficiency of such systems on an ongoing basis. It always endeavors to develop systems to provide maximum protection for customers banking transactions.

It also makes customers aware about the risks resulting from abusing the financial and banking services and fraudulent transactions.

Principle 6: Protection of Privacy and Confidential Information

The Bank ensures confidentiality of the financial and personal information of customers through its control systems, mechanisms and policies applied. Such information may not be disclosed to a third party unless required by applicable laws and legislations.

Principle 7: Addressing Customer Complaints and Grievances

The Bank’s Complaint Unit deals with customer complaints and grievances effectively, fairly and independently. The Bank provides a special complaint form in all its branches and on its website. The Complaint Unit is careful to find the appropriate solutions for customers in order to enhance trust, success and develop growing customer relations.

Principle 8: Competitiveness

The Bank provides sufficient information about banking and financial products and services to help customers easily compare them. The Bank shall ensure easy transfer and moving between other Banks without any complicated procedures.

Part II: Customer Responsibilities and Obligations

Customers must be truthful in all information provided to the Bank.
Customers must carefully read all the documents provided by the Bank in case of obtaining any service or product. Customers shall know about any fees, commissions, obligations or responsibilities resulting and shall have a copy of these documents before any financial or banking obligations are established.
In case customers do not understand any of the conditions or measures related to the service or the product they would like to obtain, then they must submit their enquiries to the concerned banking staff to be able to make decisions based upon a clear and full knowledge of the facts.
Customers shall comply with the complaint submission measures, including the submission of grievance to the Customer Protection Unit of the Central Bank of Kuwait.
Customers must be made aware of all risks entailed with using a product or service offered by the Bank. They can do so by directing all risk related enquiries to the concerned staff, enabling customers to better avoid the consequences resulting from such risks.
From the products and services offered, customers shall select the most appropriate ones that are suitable to their requirements and which satisfy their actual needs.
Customers shall inform the Bank immediately upon knowledge that there are some banking transactions made in their accounts which they are not aware of. Customers shall also advise the Bank immediately about any unauthorized transactions.
Customers shall be careful to keep all information related to their transactions with the Bank confidential. They shall not disclose such information to any third party to protect their funds.
In case customers face any financial difficulties that hinder them from complying with the terms and conditions of the contract of the products and services in which they deal with, then they shall ask for advice from the Bank’s staff.
Customers shall update their personal and banking information with the Bank whenever requested to do so or whenever there is a change made by customers.
When corresponding with the Bank either postal or electronic mail, customers are required to use the mail address assigned to them to ensure banking confidentiality as the Bank will not disclose customer banking details with non-affiliated third party mailing addresses.
In case customers require an authorization for a power of attorney to deal with their accounts or funds with the Bank, then they shall be very careful regarding the authorities and information granted to them. Customers have to make the necessary decision in case they are willing to cancel such powers of attorney. They shall notify the Bank of the same.
Customers shall not sign any financial documents, blank pages or incomplete data contracts. They shall review these documents to be submitted to the Bank before signing thereof.
Customers shall keep copies of the documents related to their dealings with the Bank in a safe and easily accessible place for future reference, if required.

Customer Protection Manual