Kuwait Finance House (KFH) announced that it began in January to apply the IBAN system to all clients’ accounts, and stressed that all clients must receive their IBAN numbers, in order to be able to complete any local or international transactions.
KFH’s AGM for Banking Sector Mohammed Al-Fozan stated that clients can easily and free of charge receive their IBAN numbers through balance inquiries, Alo Baitok service 1803333, Tamweel Online service, and KFH’s banking branches. He explained that clients have to give their IBAN numbers and receive the IBAN numbers of the other party, in order to be able to make transactions easily. He went on to say that this step that comes in compliance with the instructions issued by the Central Bank of Kuwait, aim to facilitate banks’ local and international transactions, in addition to ensuring the safety of financial transactions, in order to reinforce the competency of banking services offered to clients and cut costs through limiting manual work.
It is worth noting that KFH was one of the first banks that completed its preparations to apply the IBAN system before the designated time frame, due to its advanced technological infrastructure and highly trained employees. KFH holds a high status among local and regional banks in offering electronic banking services that include 150 online services; in addition to being the first bank to offer a bouquet of banking services on i-Phones, i-Pads, and Blackberries.