Kuwait City, 23 Oct: Kuwait International Bank (KIB) announced signing a one-year memorandum of understanding (MoU) with the Kuwait Association for Needy Families (KANF). The MoU aims to strengthen cooperation between the two parties, in line with the goals of the Bank’s pioneering social responsibility program.

Commenting on the agreement, Ali Alhashash, Head of Collections at KIB, said: “Signing this MoU is a testament to the mutual interests of both the Kuwait Association for Needy Families, as a public welfare entity, and KIB, as an organization that plays a leading role in community welfare. Both parties aim to enhance their role in promoting cooperation and collaboration between all official and civil entities to help those struggling financially and incapable of paying off their liabilities. Under a long-term vision that seeks to boost social safety, the MoU will provide this segment of people with an opportunity to overcome their social and financial hardships in accordance with specific controls. The Bank and the Association also seek to further solidify their roles in advancing the true concept of social responsibility among the synergetic Kuwaiti society.”

On his part, Eng. Bader Al-Mubarak, Chairman of the Board of Directors at the Kuwait Association for Needy Families, elaborated that the agreement with KIB was a result of the Association’s expansive experience in Kuwait and specialization in helping those with limited to no income in society. “KANF’s main goal and overall strategy is attempting to solve all humanitarian issues related to distressed families, and the project to help people struggling with debt is a true testament to our slogan ‘Your Families Comes First’, one that calls on understanding the needs of all those living in Kuwait,” he said.

Al-Mubarak asserted that KIB will strive, along with KANF, through this MoU to find radical solutions to the problems and challenges faced by disadvantaged families. These solutions will be in accordance with the Association’s rules and regulations, and compatible with the regulations of the Ministry of Social Affairs, in order to provide aid following appropriate mechanisms and correct procedures.

Al-Mubarak noted the great social value embodied in the Association’s cooperation with major players in the private sector, within the framework of social responsibility and sustainable development, to achieve the mutual, essential goals of enhancing social security in the beloved Kuwaiti society. It is worth noting that KIB strives to maintain its position as a leading entity that contributes to alleviating social issues and creating positive change in the community in which it serves. This reflects the Bank’s main message of strengthening the bonds of unity and affinity between different segments of society, rooted in its slogan, ‘Bank for Life’.