Sustainability Related Policies​

Information and data stand as foundational assets within the domain of any banking and financial services organization.They are the most critical items for digitizing business operations, product and services, playing a pivotal role in delivering an exemplary customer experience.Therefore, it is imperative that the security of this data is maintained.At Burgan Bank, we strive to prevent the continuous threats that may be lurking internally or externally to sabotage the information and data or adversely affect our Information processing facilities and systems.

Protecting and securing such information and data has emerged as a pivotal focus for any banking organization.Ensuring the confidentiality, integrity, and availability of information assets and technologies that process them of this data is an ongoing constant effort through our cyber security initiatives structured to identify, protect, defend and monitor Cyber Security activities in a structured method.

In accordance with Central Bank of Kuwait’s (CBK) cybersecurity framework, Burgan Bank has developed its Information and Cyber Security Policy. This policy is designed to reflect the intentions of the Board of Directors and Senior Management providing comprehensive framework for directing, governing, managing and controlling the information and data assets of the Bank.

The policy aims to:

• Implement and enforce a range of tailored Information and Cyber Security control measures to ensure confidentiality, integrity and availability of information and data assets
  
• Ensure that the Bank’s security control requirements are meticulously defined through periodic Risk Assessments. This process involves the careful selection and implementation of appropriate Risk Treatment Plans to fortify the Bank’s security posture;
  
• Establish a robust Governing structure that clearly define roles, responsibilities and accountabilities for action and/or inaction of various stakeholders, and the consequences of non-adherence to the Policy;
  
• Establish minimum security baseline standards that need to be configured while implementing Banking Application systems and Infrastructure components;
  
• Provide Cyber Security requirements that to be taken into consideration during the acquisition and implementation of new Banking Application systems and Infrastructure components;
  
• Develop and sustain Methodologies and Framework to integrate and coordinate Governance, Risk and Compliance initiatives seamlessly within the business processes;
  
• Provide a holistic view of the current Governance, Risk, and Compliance (GRC) posture with respect to Information and Cyber Security to make informed decisions to manage cyber risks effectively;
  
• Ensure continued availability of Banking Application systems and infrastructure to support uninterrupted banking services to the Bank’s customers; and
  
• Identify, contain and mitigate any Cyber Security incidents and breaches.
  

The Policy is applicable to all Bank employees, contract employees, temporary contracting staff, as well as staff members of Third-Party Service providers and Third-Party information processors.

The whistleblowing policy of Burgan Bank is designed to foster an environment of encouragement and support for employees, vendors, consultants, and advisors, and all other associated parties, including both minority and majority stakeholders.This policy is in place to safeguard those who voice their concerns about behavior within the company that may be unethical, illegal, or in violation of our code of conduct. We are committed to protecting the rights and well-being of anyone who speaks up in these situations, ensuring that the bank upholds the highest standards of ethical and legal conduct.

The purpose of this policy is to encourage and support all stakeholders in addressing red flags related to any malpractices, and improve the overall integrity and performance of the organization through transparent and effective procedures, in addition to highlighting the proper channels of reporting any detected malpractices. Whistleblowers can raise any concerns via email, telephone, or online form. Additionally, whistleblowers have access to the bank’s Whistleblowing Committee, whistleblower officer, and welfare manager if necessary.

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This procedure is also adopted by Burgan Bank to enable the Bank staff / employees to raise awareness, doubts or concerns they may have on probability of violations (private disclosures / whistleblowing) directly to the Chairman and to eliminate the possibility of retaliations and detrimental actions in the work environment of the Bank through ensuring confidentiality of whistleblower as much as possible. We take the utmost care to protect the identity of whistleblowers and the confidentiality of such a report, within the limits defined by applicable laws and regulations.

Burgan Bank operates a fair advertising policy that prioritizes the protection of consumer rights. It applies to all advertisements related to financial products and services offered. The bank’s marketing communications follow the below guiding principles (as adopted from the Central Bank of Kuwait’s Banks Customer Protection Manual)

• Respectful to human dignity and does not incite or condone any form of discrimination.
• Financial inclusion being one of the main pillars of services, ensure that relevant banking products and services are communicated to a diverse category of customers and members of society
• Will not without justifiable reason play on fear or exploit misfortune or suffering
• Will not appear to condone or incite violent, unlawful or anti-social behavior.
• Will not contain statements or audio or visual treatments which offend standards of decency currently prevailing.
• Framed so as not to abuse the trust of consumers nor exploit their lack of experience or knowledge.
• Relevant factors likely to affect consumers’ decisions should be communicated in such a way and at such a time that consumers can take them into account.
• be truthful and not misleading.
• Do not contain any statement, claim or audio or visual treatment which, directly or by implication, omission, ambiguity or exaggeration, are likely to mislead the consumer.

Our employees shall communicate clearly and fully with customers regarding the terms and conditions of our services and shall not attempt to deceive or mislead customers and the public.

It is the policy of Burgan Bank to deal and treat all individual customers with justice, equality, fairness, and honesty in the Bank’s dealings.

The Client Complaint & Protection Unit (CCU) team works closely with the business to make sure ongoing compliance with the Central Bank of Kuwait (CBK) requirements on handling customer complaints.

In summary, the purpose of this policy is to:

• Ensure effective client complaints handling, escalation, and resolution as per Central Bank of Kuwait (CBK) Circulars.
  
• Ensure that Client Complaints are appropriately addressed utilizing a consistent policy, which is in line with regulatory requirements.

All complaints are received in writing and through any of the three designated channels determined by the Bank, i.e. in person, via post, Fax or Email.

Fill the complaint form and then present the complaint according to the following:

• • Come in person to any of the bank’s branches or the Client Complaint and Protection Unit at the bank’s head office, 2 Second floor, Burgan Head Office, Abdullah Al Ahmed Street, Kuwait City.
  • Present the complaint through the bank’s website via email at CCU@burgan.com
  • Postal mail on the following address: Client Complaint and Protection Unit, P.O Box 5389,Safat 12170, State of Kuwait.
• The Bank shall address each complaint as per the approved work mechanism for handling client complaints.
• The Bank shall reply to each complaint in writing within 15 business days from the date of receipt of complaint and deliver it to the client in person or by registered mail with acknowledgment of receipt. ​

In the event of not being able to remove the cause of the complaint, the client may present the complaint to the Clients Protection Unit at the Central Bank of Kuwait. The Complaint handling process shall enable clear communication with the customer to ensure a timely and satisfactory conclusion in line with the Bank’s core values. Communication with the customer is to be maintained throughout the process and if timelines are extended, the customer will be advised immediately.CCU shall receive, review and respond to the following as per CBK Instructions

Burgan Bank’s Debt Collection Policy is centered around dignity and respect to customers. This policy has been made to foster customer confidence and long-term relationship by following fair practices in collection of dues and enforcement against securities. The Bank does not aim to have policies or practices that are unduly coercive in recovery of dues. Also, the Bank’s representatives during all stages of their dealings with customers shall ensure equal, just, fair and honest treatment.

The Bank aims at recovery of dues only in the event of default by adopting follow up measures and does not aim at forceful deprivation of the asset offered as security.The Bank reckons fairness and transparency in valuation of security and enforcement thereon in consonance with the law.

The purpose this Debt Collection Policy is to establish guidelines for collection of dues from the borrower and enforcement against any asset offered as security from the borrower or a guarantor, guaranteeing the repayment obligation of the borrower towards the Bank under the relevant finance and security documents.

For Burgan Bank to maintain its financial and reputational integrity, it is imperative that it continually strives to ensure that all purchases are cost-effective and compliant with the Environmental, Social and Corporate Governance (ESG) best practices. The Group Operations supports this goal by maximizing value, maintaining appropriate service levels and garnering cost savings across the Bank. In order to attain these results, the products and services that the Bank purchases or receives, as well as services that are performed in the Bank’s name should be requested, authorized, received and paid for in accordance with the applicable Bank’s policies and procedures.

The objectives of this policy are the following:

• Ensure that all procurement processes are performed in a transparent, controlled and disciplined manner; Safeguard the interests of the Bank by minimizing the reputational, Money Laundry (ML), continuation and quality of service and ESG risks;
  
• Enhance the effectiveness of the procurement process, ensure the quality, continuity of supply, procurement under optimum terms and conditions while considering the overall cost efficiency in comparison with the products or services procured; and
  
• Take advantage of aggregation of demand, and economies of scale and increase the negotiation power by centrally procuring goods and services, where this is reasonable, advantageous and permissible, reduce the total cost of procurement to the minimum extent possible and consequently gain a competitive advantage that is affecting positively the bottom line profitability of the Bank.