Violations cited in some banks’ deals ‘Calculation of loan interests’

KUWAIT CITY, Jan 20: Irregularities have allegedly been uncovered in some contracts signed between some banks and their clients, particularly in the calculation of loan interests in a way that violates Trade Law number 68/1980, reports Al-Shahed daily quoting sources.

Sources said these banks have granted loans more than the amount that the applicant can afford to pay.  Sources pointed out this is against the law because it causes heavy financial burden for the borrowers.  
Sources added some banks do not give their clients a copy of the contract or document they signed, indicating this is one of the reasons behind the involvement of around 80,000 citizens in various cases.  

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