KIB conducts Business Continuity simulation exercise to further strengthen response of Crisis Management Team

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Kuwait City, Nov 8: Kuwait International Bank (KIB) recently conducted a hands-on simulation exercise to ensure the readiness of its Crisis Management Team to face any disruptive incidents that could negatively affect the business continuity of the Bank’s operations and customer services. The exercise included different scenarios designed to challenge KIB employees to deal with plausible scenarios like unavailability of systems, cyber-attacks and/or disruptions in communication and supply chain processes, in accordance with international best practices and standards in this field. The program comes as part of KIB’s commitment to maintaining a solid business continuity posture and continuing to invest in training, technology, and best practices to protect its stakeholders.

In a proactive effort to reinforce preparedness and suitable responses, the simulation exercise involved key stakeholders and employees from various departments, all working together to navigate simulated scenarios. “We take our commitment to business continuity seriously,” said Moudi AlMahmoud, Head of Business Continuity at KIB’s Risk Management Department. “The simulation allowed us to assess our readiness, identify areas for improvement, and ensure that our team is well-prepared to respond effectively to any real perceived threats.”

AlMahmoud noted that participants in the simulation demonstrated a high level of awareness and competence in handling various crisis situations. “This crisis simulation is seen as a confidence-building exercise for the Business Continuity Management (BCM) stakeholders, whilst providing assurance to the Bank’s Executive Management and the Board about the readiness of BCM infrastructure and the overall integrity of its operations to face any disruption,” she added.

On his part, Feroz Noorani, Chief Risk Officer / General Manager of Risk Management at KIB, said: “At KIB, we strive to constantly update the Bank’s systems, processes and upgrade infrastructure, keeping pace with all technological developments to provide continuity of services at high levels of integrity and confidence. While maintaining a high level of financial and banking services provided to customers through the Bank’s various digital channels, and automated processes, we continue to simultaneously ensure that KIB employees are able to rapidly intervene in the event of any emergency or crisis so that business continuity is constantly maintained.”

Noorani also pointed out that the Bank is constantly keen to develop the capabilities of its employees, by providing them with periodic training and development opportunities in technical spheres. These learnings and life-case studies enhance their knowledge and refine their skills, boosting performance and efficiency levels, especially those related to dealing with threats and different risk scenarios.

Noorani added that KIB continues to be the only Kuwaiti bank that holds ISO 22301 certification since 2013, having to go through an annual surveillance audit performed by ISO accredited “BSI” of the U.K. to maintain the high standards of Business Continuity Systems.

It is worth noting that KIB is always keen on providing an advanced digital banking experience to maintain its leading position in the market. The Bank applies the best and safest international standards in the banking sector, supported by the latest technologies that elevate customers’ experiences, in line with its main slogan “Bank of Life.”

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