Almost KD 27b withdrawn

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KUWAIT CITY, Feb 22: According to official data released by the Central Bank of Kuwait, the total number of cheques that were issued in Kuwait in 2022 was about 4.18 million cheques with a total value of about KD 26.93 billion issued to about 148,800 customers. This is down by 0.5 percent compared to 2021 when the total cheque amount was KD 4.2 billion, reports Al-Rai daily.

The number of bounced cheques in 2022 due to lack of balance amounted to about 3,962 cheques with a total value of 59.8 million, belonging to about 2,587 customers. This is a drop in value by about KD 47.1 million, or by 44 percent, compared to 2021 when it was about KD 106.9 million. The data showed an increase in the value of cheques that caused accounts to be closed during 2022, by about 64.8 percent, reaching KD 30 million, compared to 18.2 million in 2021. The number of such cheques last year amounted to 1.89 thousand, and the number of accounts closed because of them reached 608.

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