Banks see no reason to delay repayment of citizens’ loans – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

Banks see no reason to delay repayment of citizens’ loans – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

KUWAIT CITY, March 10: According to Kuwaiti banks, there is no need to postpone the due installments from Kuwaiti debtors, reports Al-Rai daily quoting informed sources.. Directive the banks agreed with the Central Bank of Kuwait's directive to allow customers to pay from their bank accounts without the need to pass their cards on point-of-sale (POS) devices, and without inputting their secret numbers, by up to KD 25 per transaction.. According to the banking data provided to the supervisory authorities, the withdrawals implemented through points of sale, without the need to pass the bank cards, constitute about 80 percent of the total purchases recorded through POS devices from KD 1 to KD 25.. The Central Bank announced the establishment of a fund worth KD 10 million to be funded by Kuwaiti banks to support the ongoing governmental efforts to combat the spread of coronavirus.. Governor of the Central Bank of Kuwait Dr Mohammad Yousef Al- Hashel explained that the initiative comes within the framework of ensuring the banking sector carries out its social responsibilities..