Press Releases
CBK Issued Instructions Regarding the Rules & Regulations for Granting Personal Loans & Financing Facilities (Consumer/Housing) in Addition to Issuance of Credit Cards
His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, stated that within the framework of CBK’s routine revision of its issued regulations and rules in view of economic and banking developments related to the goals and consequences of these instructions, CBK had, in cooperation with an international consultancy company, reviewed and assessed its issued instructions regarding the rules and regulations for granting consumer and installment loans/ finance.
The study took into consideration the changes in the indicators of macroeconomic performance since the last amendment to the maximum limits for such loans back in 2004, including changes in population growth rates, inflation rates, rise in consumable and durable goods prices, and increases in salaries and wages, in view of relevance of loans to a large segment of nationals and residents and their relative share in credit and financing portfolios of banks and finance companies, as well as the importance of regulating growth of such loans in a manner that maintains monetary and financial stability.
