publish time

02/05/2019

author name Arab Times

publish time

02/05/2019

I am writing this email to ask about a legal matter. I have a loan with a bank in Kuwait and I have plans to move out of Kuwait in the few months. I am planning on paying my installments on a regular basis into my account. However, I might not be able to keep my Kuwait’s residency. Is this going to affect my loan in anyway or my rights to move out of the country?

Name withheld

Answer: Our advice to you is that you do everything possible to settle your loan obligations before attempting to exit Kuwait for good. Indeed the laws of Kuwait demand that you do exactly that in addition to settling your water and electricity bills, if there are any. Your plan on paying your installment on regular basis into your account is easier said than done. In any case, you were able to open your bank account on the basis of possessing a valid Kuwaiti resident permit. Exiting Kuwait permanently will therefore mean that your account will seize to function. We don’t think any bank in Kuwait will accept any such arrangement and indeed we could be surprised if any do.

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