CBK to warn on delinquent proof-of-purchase for loans

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KUWAIT CITY, Dec 12: The Central Bank of Kuwait (CBK), in the next phase, will send warnings to customers who have not submitted their invoices and bills for clarifying the purpose behind taking personal loans from local banks, reports Al-Shahed daily quoting informed sources.

They revealed that CBK has renewed the demand from several banks to ensure their customers who took personal loans submit the invoices. The sources stressed that a large number of customers are not aware of the gravity of the situation and the punitive measures or sanctions the banks will impose on them if they do not comply with the terms after the end of the grace period.

They indicated that the instructions should not be taken lightly especially since they are from the CBK, affirming that the failure in compliance to this instruction could force CBK to penalize the bank that has been taking the issue lightly. The sources stressed that this move is based on the regulations of the banking industry to follow up the use of loans and update customers’ information

This news has been read 9966 times!

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