NBK Executive Management continues school visits to monitor ‘Bankee’ program
KUWAIT: The Executive Management of National Bank of Kuwait (NBK) continued their school visits across Kuwait to monitor the implementation of the “Bankee” program, which was officially initiated in the current academic year through a partnership with the Ministry of Education, Kuwait Authority for Anti-Corruption “Nazaha,” and Creative Confidence Company.
The bank arranged an exclusive visit to Husain Al Asousi School, featuring participation from Salah Al-Fulaij, CEO of NBK Kuwait accompanied by representatives from Ministry of Education and Nazaha and Sumayah Al-Jasem, Founder, Managing Director at Creative Confidence, as part of the event. The purpose of the visit was to update attendees on the latest advancements in the “Bankee” program’s implementation in schools, aiming to enhance financial literacy and awareness among students across public and private schools.
Al-Fulaij toured several classrooms within the school to observe firsthand how the program has been integrated into the students’ daily classroom activities, and to see the manner in which awards are given for exceptional performance and behavior. Al-Fulaij observed the comprehensive implementation of the Bankee program, including the experience with the virtual bank that enables students to manage a financial account trading in the virtual “Bankoz” currency, and how students are rewarded based on the accumulation of the program’s currency in their accounts.
During the visit, there was notable student engagement with the program’s features, and parents expressed their delight over the positive shifts in their children’s behaviors and financial understanding. Conversations also took place with teachers regarding the program’s impact on student development. Commenting on this visit, Al-Fulaij said, “We, at NBK, take great pride in the significant accomplishments of this key initiative. It serves as a foundational element in fostering financial inclusion and enhancing financial literacy among our students during this pivotal stage of their lives. Its goal is to establish the essential knowledge required for managing their financial affairs in the future.”
“It’s crucial for our students to understand the significance of saving, budgeting, and prudent spending right from a young age. The sooner they start, the more profound the effect will be,” Al-Fulaij emphasized. Al-Fulaij further mentioned that NBK is a bank with a strong community orientation, acknowledging the value of financial education for the youth. The bank has initiated efforts to nurture a financial culture within society, driven by the conviction that financial literacy is not only crucial but also contributes significantly to economic enrichment, fostering both growth and development.
Al-Fulaij highlighted the importance of making financial education a priority in schools, as it equips students with sound financial habits that will benefit them for a lifetime. Moreover, he noted that when the younger generation is knowledgeable about managing their finances, it will also positively impact the economy over the long term. He also emphasized that enhancing financial literacy among children and young people is a long-term endeavor, which might involve offering financial education both within schools and beyond.
He pointed out that initiatives aimed at boosting financial literacy are crucial for private sector institutions to support financial inclusion efforts and enhance measures of financial socialization. Having achieved a remarkable success in its pilot phase, Bankee encouraged more schools and students to join it. Out of 150 applicants, 30 schools have been enrolled in the program so far, in addition to a special needs school for learning difficulties (Joan Al-Kuwait Elementary School), with a total of 15,000 students and more than 3,000 teachers.
Bankee also launched its website in Arabic and English, as well as social media pages on Instagram, TikTok and YouTube, to enable all participants to benefit from the provided content, activities and events held at different schools all year round. NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee program. This recognition signifies the bank’s commitment to incorporating innovations that integrate sustainability and environmental, social, and governance standards into its activities.
“Bankee” stands as the pioneering program launched by NBK, designed to contribute to financial inclusion within the community. Specifically tailored for students in schools, the program seeks to enhance levels of financial literacy, ensuring sustainable improvement for the future. NBK officially inaugurated the program in October in collaboration with the Ministry of Education and Nazaha. The program’s objective is to familiarize students with fundamental economic concepts and practices, including earning, spending, saving, and financial responsibilities. This is achieved through the implementation of a classroom system that mirrors the real economic environment, employing practical methods within an interactive setting.
