Loan Access For Kuwait's Private Sector Workers To Be Eased

In a letter to the Minister of Justice and Minister of State for Housing Affairs, Faleh Al-Raqab, the First Deputy Prime Minister and Minister of Interior, Sheikh Talal Al-Khaled, requested that the requirement to have a guarantor for credit bank loans to workers in the private sector registered under Chapters Five and Three be canceled.

As part of the state's efforts to encourage qualified Kuwaiti youth to become entrepreneurs and establish commercial projects, this initiative is being launched.

In order to remove all obstacles facing the national workforce in the private sector and bring them on par with workers in government agencies with regard to documents and procedures for loans granted by the Kuwait Credit Bank, Al-Khaled has requested that the guarantor requirement be removed.

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