Islamic Finance

Kuwait’s banks defer consumer, SME loans repayments for six months amid coronavirus pandemic


Kuwait’s domestic banks will defer payment of consumer and SME loans and financing for six months amid the COVID-19 pandemic.

State news agency KUNA on Tuesday (Mar 24) cited the Kuwait Banking Association as saying the banks are also cancelling “interests and proceeds to be posted by this postponement or any other fees”.

The banks will also postpone payment of credit card instalments for six months, and cancel interest, and earnings to be made from this deferment, as well as any other fees. 

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