Sunday , September 23 2018

Banks want purchase receipts – Truth in lending

KUWAIT CITY, Sept 26: Banks have instructed citizens and expatriates, who obtained loans, to submit receipts reflecting usage of the loan amount, reports Al-Shahid daily quoting sources.

Sources explained the decision shall take effect on the first of October, stressing the banks will take legal action against those who will not comply.

Sources said the total amount of loans reached KD 11 billion, warning that Credit Information Network (Ci-Net) will blacklist all those who will not submit the invoices.

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