Central Bank raises maximum deduction for retirees' installments to 40% of salary
Press coverage 1 newspapers covered this event: Al-Qabas →
The Board of Directors of the Central Bank of Kuwait raised the maximum deduction for retirees' installments from 30% to 40% of the salary to enhance financial inclusion.
Translated by Qiyas from الجريدة — Original source
The Board of Directors of the Central Bank of Kuwait amended the instructions, rules, and foundations governing the granting of loans/personal financing for consumer and housing purposes, as well as the issuance of credit cards, allowing the maximum monthly installment-to-net-salary ratio for retirees to be raised from 30% to 40%, thereby ensuring equality among different categories and enhancing financial inclusion.
The circular emphasized the necessity for customers to be fully aware of the results of such studies and their financial implications, ensuring clarity regarding their obligations.
