Verify Credit Score Of The Client Before Giving Them Loans

Governor of Central Bank of Kuwait (CBK) Dr Mohammad Al-Hashel has asked banks and financial companies to study the financial situations of their clients before issuing loans to them, reports Aljarida daily.

He indicated that CBK did not issue any instructions to ban banks and companies from granting loans to the clients who are unable to settle their debts regularly, adding that CBK did not ask the banks, investment companies or any other authorities to block clients against whom financial cases have been filed for failing to settle their debts.

Al-Hashel explained that the Credit Information Network Company has not blacklisted any client but it has a credit history of all clients with installments, credit cards or loans. Meanwhile, sources revealed that CBK will hold a workshop on Sunday to clarify in detail the new instructions issued for loans and to answer any inquiries and doubts in this regard.

Source - Arab Times