KFH organizes banking experiment for university students

KFH organizes banking experiment for university students

KUWAIT: Kuwait Finance House (KFH) implemented an innovative banking awareness experiment to measure the banking awareness of university students and provide educational advice and the need to review and read any contract signed to complete banking transactions. The experiment comes as part of the awareness campaign “Be Aware” launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association, and part of the bank’s social responsibility.

The experiment focused on testing the banking information of some university students to enhance their banking awareness and shed light on the importance of reviewing the terms and conditions of any contract to be signed for the completion of various banking services.

KFH conducted the awareness experiment  at Gulf University for Science and Technology, and it consisted of testing a number of students by asking them to sign a contract that includes the terms and conditions for opening a fictitious bank account, and then the students received a text message via mobile phone indicating a deduction of an amount of KD 100 as account opening fees, which sparked reprehensible reactions for the reason of the deduction from their personal account, despite the fact that the contract signed by the students participating in the