Banks in Kuwait Starts To Hunt Down Expats With Existing Loan Who Went Home To Their Countries

Several expatriates were left without a choice but to stay in their home country after Kuwait implemented a deployment ban which soon resulted in the expiration of their residence visas. However, despite the issue with their respective visas, this shouldn’t be the reason not to pay for their existing loans in Kuwait.

There are a couple of Banks in Kuwait who started to prosecute those expats with existing loans but were stranded abroad. The prosecutor is tagging all expats with bank loans from KD50 (PhP7,903) and above.

“The individual loans taken by expats is generally based against the indemnity to be paid by the companies as the loan ceiling for the majority of expatriates is specific, financially does not constitute an influential mass in the financing portfolios,” as reported by a local news agency in Kuwait.

But the said loan facility will not be easily assessable to all expats with existing loans. A specific condition needs to be met first when it comes to their salary and job regularity.

Source Arab times 

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