Ministry of Commerce Amends Regulations on the Disbursement of Construction Materials for Credit Loan Beneficiaries

The decision stipulates that the concerned party must have obtained a loan from the Kuwait Credit Bank, whether it is a construction loan, a renovation and expansion loan, a purchase loan, or a demolition and reconstruction loan. The materials shall be disbursed to the beneficiary only once, with the entitlement determined according to their civil ID number, and the disbursement shall be linked to this number.

If the beneficiary is the owner of a house and wishes to demolish and rebuild it, the provisions of Clause (First) of Article Two shall apply, subject to the following conditions:

- The beneficiary must have obtained a demolition and reconstruction loan from the Kuwait Credit Bank.

- The beneficiary must submit a letter from the Kuwait Credit Bank specifying the amount reserved for demolition and reconstruction. The quantity shall be determined in accordance with the table set forth in Clause (First) of Article Two, taking into account the deduction of any quantities previously disbursed to the beneficiary.

The Ministerial Decision abolishes Clause (7) of Article Four of the aforementioned Ministerial Decision No. (222) of 2024, and any provision conflicting with the terms of this decision is hereby repealed.