390 bank accounts closed due to bounced checks for insufficient funds

Kuwaiti banks closed 390 bank accounts between January and the end of June 2026 due to bounced checks for insufficient funds, a move reflecting the continued implementation of banking measures aimed at mitigating the risks associated with check transactions and enhancing discipline in financial dealings.

Official banking data revealed that the closed accounts belonged to 371 clients who issued 1,158 bounced checks for insufficient funds during the period from January to the end of June 2026, with a total value of 8.1 million dinars.

Conversely, the data showed that the total number of bounced checks for insufficient funds in the Kuwaiti banking sector during the first half of the current year reached 2,394 checks, with a total value of 48.8 million dinars, issued by 1,589 clients.

The data indicates that the checks leading to account closures accounted for approximately 48.4% of the total number of bounced checks during the period, while their value represented about 16.6% of the total value of bounced checks.

Meanwhile, the total number of checks presented for circulation through the Kuwaiti banking sector between January and the end of June 2026 reached approximately 1.74 million checks, with a total value of 11.98 billion dinars, issued by 45,960 clients. This reflects the continued use of checks as one of the payment instruments in commercial and financial transactions, despite the ongoing expansion of electronic payment methods.