Expat Teachers in Kuwait Face Financial Risks Amid Termination of Services.

This news has been read 18778 times!

KUWAIT CITY, March 28: About 1,800 expatriate teachers who are included in the replacement process and dispensing with their services are at risk of being exposed to a financing ‘block’ from local banks, until they move to new jobs that qualify them to borrow again, reports Al-Rai daily. Informed sources stated that the Public Education Sector in the Ministry of Education has provided the banks, upon their request, and as part of their endeavor to discuss the possibility of placing them on the list deprived of new funding until further notice, with a list of names included in the decision to terminate their services, noting that the banks are planning to tighten financial screws on the terminated teachers.

However, they do not face the risk of being exposed to the default of this segment, by virtue of the fact that their loans are linked to the end-of-service indemnity, and it is expected that their money will be frozen as soon as they are deposited in the accounts of the beneficiaries and their loans amounts will be deducted from this money.

This news has been read 18778 times!

Related Articles

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights