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Kuwait- 'Govt must act fast on issue of citizens' loans'  Join our daily free Newsletter

MENAFN - Arab Times - 24/12/2012

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(MENAFN - Arab Times) The issue of citizens' loans is very sensitive and government must act fast to settle the problem, reports Al-Anba daily quoting Deputy Director of the Political Office of 11/11 Bloc Consultant Mohammad Al-Othman as saying.

Media consultant Al-Othman said this Saturday at his diwaniya during a press conference that attracted journalists, political groups and many debtors.

He added that debtors are victims to some local banks that violated international central banks laws, stressing the Central Bank must be up to monitor the banks which do not consider the level of income of their debtors and only think about loans interests.

He reasoned that interest rates the banks charge are too cumbersome for the debtors to bear, especially low-income earners - taking into account their family responsibilities. He urged current lawmakers to fulfill their electoral promises, particularly those who promised to resolve the issue of interest rate during the electoral campaigns.

He noted the country has been living in the wilderness of loan crisis with successive parliaments, so the current lawmakers must make it right.

 






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