Banks Should do More to Help Customers

Kuwait’s Central Bank has called on banks in the country to do more to help their personal and business customers who have been affected by Coronavirus. They have been instructed to postpone owed amounts from these customers for six months penalty-free. This marks a three-month extension from the period originally announced by the Bank in March. It means these customers will benefit from these measures until September this year. It is one of several measures announced by the Bank to try and help those affected by the disease in the country. These banks should process more applications from individuals, corporates and SMEs who have been affected by the virus. The Bank added banks have already used 30% of the funds made available under the Targeted Economic Support Scheme. Details of scheme usage will be published next month. Full story

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