The Union of Kuwait Banks said that its board of directors decided in an emergency meeting held today to postpone the installments of citizens ’loans to small and medium-sized companies for six months, while bearing the financial cost of that due to the economic repercussions that resulted from facing the spread of the Corona virus.
The Federation’s decisions announced in a press release included postponing the installments of consumer and installment loans and credit card installments to all citizens of local banks ’customers,“ with the cancellation of interest and profits arising from this postponement and any other fees. ”
It also included postponing loan installments and credit facilities for bank customers who own small and medium-sized companies for a period of 6 months "with the cancellation of interest and profits resulting from this delay. That burden the citizens in these delicate conditions and protect small and medium enterprises. "