Loan Installments To Resume In November

Around 150,000 citizens are expected to benefit from the postponement of the collection of loan payments for six months following the Cabinet’s decision, revealed Kuwait Credit Bank Director Salah Al-Mudhaf. He added the payment collections will start in November 2020.

The total value of installments is estimated to be KD100 million during the delay period. He noted that there is also no increase on the agreed monthly installments during the suspension of collection payments to ease the burdens of citizens. Following a comprehensive study prepared by the bank and submitted to the council, he said the decision was taken to include real estate, social, portfolio and women’s loans.

The aim of this was to help citizens cope with the crisis that is currently impacting the country. He emphasized that the bank is committed to working in the interest of citizens. He added that a total of 1,750 customers have so far been able to take advantage of the online services of the bank during the suspension of work activities, and the disbursed amount reached more than KD7 million.

 

SOURCE : TIMESKUWAIT

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