LOC18:25
15:25 GMT
A chart to explain the Central Bank's instructions
KUWAIT, Aug 15 (KUNA) -- Kuwait's Central Bank (CBK) has instructed all local and foreign banks in the country to provide their clientele with the Short Message Service (SMS) free of charge, giving them real-time transaction alerts.
The SMS service encompasses all debit card transactions as well as online banking, but clients can be contacted through other means, if they so choose, CBK's Governor Dr. Mohammad Al-Hashel said in a statement.
He revealed that the service will be up and running on September 16th and is part of plans to provide customers with top-notch banking services, helping banks to deal with any potential cyber threats.
Al-Hashel also described the measure as a surveillance tactic that assures clients of foolproof security given the alarming rise in banking fraud. (end)
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