Kuwait – Kuwait has so far withdrawn approximately 12 million Kuwaiti dinars ($39 million) from the loans of clients whose nationalities were withdrawn in the country and whose classification as bank clients varied between VIP, distinguished and ordinary clients.
Banking sources reported to the Kuwaiti newspaper “Al-Rai” that the value of the aforementioned loans is distributed between personal, consumer and installment financing, indicating that the total value of the loans in this segment is not distributed equally across the banking sector, as each bank’s share reflects its market share of individual loans.
The sources pointed out that the value of the loans allocated by banks in this regard does not include the results of sorting the last two announced batches of those whose nationalities were withdrawn, with a total of approximately 3,200 people, as the value is likely to increase in the coming period.
The sources added: “The lending bank has the right to freeze customers’ deposits and assets, if any, and partially deduct the installments, while it continues to reserve the rest of its balance if it implements instructions to block accounts and transactions whose nationalities have been withdrawn.”
The sources stated that the vast majority of clients whose nationalities were withdrawn only have their salaries, noting that the banks’ lists of withdrawn nationalities were not devoid of divorced clients, and others receiving Ministry of Affairs bonuses, but according to the sources, the percentage of this segment is very limited, and does not exceed 1% of the total. Borrowing clients whose nationalities were withdrawn.
It is worth noting that the value of the withdrawn amounts is equivalent in dollars to about 39 million US dollars.
Source: Kuwaiti “Al-Rai”.
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