Kuwait, 24 November 2024: Kuwait International Bank (KIB) announced the ongoing strengthening of its strategic partnership with the Union of Cooperative Societies in Kuwait. This collaboration aims to promote banking and financial literacy while making banking services and products easily accessible to customers as they shop at cooperative societies across Kuwait. This initiative supports the 'Let's Be Aware' (Diraya) campaign, launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA) in collaboration with local banks.
In this regard, Musab Al-Shalan, Deputy General Manager - Retail Banking Department at KIB, met with the President of the Union of Cooperative Societies Musab Al-Mulla at the Union’s headquarters. Representatives from the cooperative societies participating in the Bank’s strategic agreement were also in attendance, including Mubarak Al-Kabeer Cooperative Society, Mishref Cooperative Society, Al-Shaab Cooperative Society, Farwaniya Cooperative Society, Abdullah Al-Salem and Al-Mansouriya Cooperative Society, Qurtuba Cooperative Society, Kaifan Cooperative Society, and Al-Shuhada Cooperative Society.
Al-Shaalan highlighted that KIB aims to expand its partnerships with civil society organizations, including cooperative societies, aligning with the Bank’s vision and strategy to maintain a strong presence near its customers while they shop. He pointed out the significant role cooperative societies have played since their establishment in meeting the needs of citizens and consumers across various regions, positively contributing to the country’s economic and social development. “This success has even inspired other countries to learn from the Kuwaiti experience in this field,” Al-Shaalan stated.
Al-Shaalan added that this initiative reflects KIB’s commitment to social responsibility, as the Bank consistently strives to craft its initiatives and activities with care, aiming to make a positive and sustainable impact on Kuwaiti society. He emphasized that supporting and developing civil society organizations is a key objective for the Bank in this regard, commending the outstanding performance of cooperative societies, which have become a successful model of productivity and efficiency.
On his part, Al-Mulla expressed his gratitude for KIB’s distinguished role in supporting the cooperative sector, which serves a large segment of citizens. He praised the field training and part-time employment project for recent graduates, designed by the Bank for local youth in collaboration with the Union of Consumer Cooperative Societies and the participating cooperative societies. He expressed hope for continued successful cooperation in such social development initiatives.
It is worth mentioning that KIB places great importance on promoting banking awareness within the community and consistently seeks to launch initiatives aimed at enhancing financial literacy. The Bank also actively participates in activities and events supporting the “Let’s Be Aware” financial awareness campaign, in line with its main slogan, “Bank for Life.”
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