Banks Ready To Grant Housing Loans Up To A Quarter Million Dinars

It seems that the ‘mortgage’ file has come to the fore again but this time through the Central Bank of Kuwait.

Informed sources told Al-Rai that individual loan policy makers in local banks have finally submitted their views regarding the upcoming mortgage law to the Central Bank of Kuwait (CBK), each bank separately, indicating that foreseeing the opinions of bank officials this time was in the form of a supervisory request, in preparation for forming a technical and legal position that will be submitted to the National Assembly in future as a unified formula combining the opinions of all banks in restructuring the housing loan strategy from the credit bank to local banks.

The sources stated what local banks have submitted to the CBK show there is a banking consensus to participate in providing housing loans, and the ability of the banks to provide appropriate liquidity to solve the existing crisis, explaining that the most prominent proposal was that the value of the loan be linked to the value of the property, while other banks said financing should for 250 thousand dinars, which is about 3.5 times the current housing loan set by the supervisory authority at 70 thousand.

 

 

 

SOURCE  TIMESKUWAIT

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