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Kuwait City: Banks resume granting loans to expatriates working in the private sector. Conditions for granting loans have also been changed. The minimum wage for getting a loan for expatriates has been reduced from the previous 500 dinars to 300 dinars. The local paper also reported that the minimum working period has been reduced from one year to four months.
Changes have also been made in the repayment period.
Meanwhile, the loan will be sanctioned as per the instructions and conditions of the Central Bank of Kuwait. Salary and repayment capacity will be checked. It is mandatory that the company where the applicant works is listed on the Kuwait Stock Exchange. Loan disbursement was suspended for three years due to Covid.