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Thursday , August 6 2020

Expenses of Kuwaitis and Expats down this year

KUWAIT CITY, Dec 3: Expenditures of citizens and expatriates during the first half of this year using bank cards amounted to about KD 11.8 billion, which is an annual decline of 0.8 percent compared to expenditures of KD 11.9 billion dinars in the same period last year, reports Al-Anba daily.

According to data from the Central Bank of Kuwait, the total payments through Point-of-Sale (POS) inside and outside Kuwait during the first half of this year were KD 5.49 billion, and the cash withdrawal using ATMs both inside and outside Kuwait during the same period stood at KD 6.29 billion.

The amounts disbursed using bank cards during the first quarter of this year amounted to KD 5.9 billion, which is an increase of four percent compared to KD 5.7 billion in the first quarter of 2018.

The expenditures of both the citizens and expatriates using bank cards during the second quarter of this year was about KD 5.8 billion, which is a decline of 5.2 percent compared to KD 6.17 billion in the second quarter of 2018.

Also, the data of the Central Bank of Kuwait showed that the total number of cheques issued in Kuwait during the first half of 2019 was 2.94 million, which were valued at KD 21.7 billion, marking a significant annual jump in value by 47 percent, compared to KD 14.7 billion during the first half of 2019.

In the first half of this year, cheques were issued by 133.7 thousand customers. As for bounced cheques, the data shows that the number of cheques issued without balance during the first half of 2019 was about 2,812, worth KD 42 million, issued by 2,000 customers.

The number of accounts that were closed due to the bounced cheques were about 459 belonging to 457 customers. The value of bounced cheques stood at KD 18.9 billion.

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