(MENAFN- Arab Times) Ahli United Bank has announced that it is ready to apply the latest amendments to the regulations of Consumer and Installment Finance released by the Central Bank of Kuwait and will become one of the leading banks to declare full completion of preparations to deal with the newly issued regulations.
Moataz El-Rafie- Senior Deputy Chief Executive Officer at Ahli United Bank, stated that as a result of the new amendments, customers are able to reschedule their existing finances with new finances, as long as they have settled 30 percent or more of the existing finance installments.
The new amendments will also allow customers to transfer their existing finances from other banks to Ahli United Bank and reschedule to a new finance in line with changes in their income and needs. This will give customers the opportunity to take advantage of the different features and benefits offered by the bank.
El-Rafie clarified that the new amendments are in line with Ahli United Bank strategy of focusing on the customer value and interest, especially with respect to transparency and fairness as customers are provided with all relevant details of the financing arrangements and will be granted a two day waiting period before signing the finance contract to ensure they are making the right decision.
These amendments contribute to creating a state of competition among banks, which is in the interest of the customer. El-Rafie thanked the Central Bank of Kuwait for these regulatory amendments which reflect the market and consumer needs
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