Press Releases
"Diraya" Campaign Releases Video on Personal Loans and Financing Facilities
Keen to enhance financial awareness across all segments of society, and in line with its directives towards expanding and strengthening the Kuwaiti banking sector’s social responsibility, the CBK-supervised banking awareness campaign “Be Aware” (“Diraya” in Arabic) continues in cooperation with the Kuwait Banking Association (KBA) and with participation of all Kuwaiti banks, with the aim to leverage public awareness of the banking sector’s role, and how customers can use banks’ diverse services most advantageously.
In a statement marking the launch of the new campaign video, the CBK affirmed its resolve to regulate the extension of personal loans and financing facilities to enable customers to benefit from such facilities without exposure to the risk of default, nor overburdening them with financial obligations. As part of the efforts to enhance the protection of the banking sector’s customers, “Diraya” Campaign launched a video that clarifies the most important aspects that individuals should know about loans and financing operations to customers, the requirements to be fulfilled to benefit from the facilities, and the customer’s rights and obligations in this regard.
The video highlights the CBK’s instructions to banks and financing companies, stating that the lenders should advise customers before and during the financing term. The said instructions underline the necessity to explain the risks of increasing financial obligations on the customer requesting credit or finance, especially in the event of any change to the financial condition resulting from change of employment or retirement status, or in applied interest rate.
The content provided by the campaign is published through several channels, most notably on the CBK and Kuwaiti banks social media accounts. More information on the “Diraya” banking awareness campaign and its objectives, as well as campaign content, is available through its official website: www.dirayakw.com
