Legislator queries Kuwaitis bank loans – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Legislator queries Kuwaitis bank loans – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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KUWAIT CITY, Dec 17: MP Faisal Al-Kandari has forwarded queries to Minister of Finance Abdulwahab Al-Rashead about the loans that citizens obtained from local banks. He wants to know the total amount of such loans, number of debtors and loan amount obtained in each bank, number of those who pay their installments on time and those who do not pay on time, number of those registered at the Family Fund, number of those facing lawsuits filed by banks and vice versa, powers granted to the Central Bank of Kuwait (CBK) to settle the complaints of debtors against the banks, number of complaints referred to the court as they are not covered by CBK’s authority, if banks have the legal right to seize properties as per the court rulings if the debtors do not pay their loans, rationale behind the plan of CBK to increase loan interest to 6.5 percent this year, economic advantage of this decision, number of bankrupt debtors registered at the Bankruptcy Fund, and total amount of unpaid loans.