Kuwait’s Move to Ease Loan Access for Private Sector Employees

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KUWAIT CITY, Nov 13: The Public Authority for Manpower reported the First Deputy Prime Minister and Minister of Interior, Sheikh Talal Al-Khaled, in a letter to the Minister of Justice and Minister of State for Housing Affairs, Faleh Al-Raqab, has requested to cancel the requirement of having a guarantor to grant credit bank loans to workers in the private sector registered under Chapters Five and Three.

This comes within the framework of the state’s efforts aimed at encouraging qualified Kuwaiti youth for entrepreneurship and establishing commercial projects.

In order to remove all obstacles facing the national workforce in the private sector and bring them on par with workers in government agencies with regard to documents and procedures for loans granted by the Kuwait Credit Bank, Al-Khaled has requested that the guarantor requirement be cancelled.

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