A Total Of 3962 Bounced Cheques In 2022 Because Of Insufficient Funds

02 February 2023 Kuwait

Kuwait presented 4.18 million checks in 2022 to 148.8 thousand customers, worth about 26.93 billion dinars, down by 0.5 percent from 2021, when it amounted to 4.2 billion dinars.

A total of 3962 checks with a total value of 59.8 million dinars were returned for lack of balance by the Central Bank of Kuwait during 2022, belonging to about 2587 customers. The value dropped by 44 percent to about 106.9 million dinars in 2021, according to Al-Rai daily, as it reached about 47.1 million dinars in 2021.

The data showed an increase in the value of checks that caused accounts to be closed by about 64.8 percent during 2022, reaching 30 million dinars, compared to 18.2 million in 2021, and the number of such checks amounted to 1.89 thousand last year, while 608 accounts were closed because of them.

 

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