Coronavirus: Kuwaiti Banking association postpones repayment of loans, credit card facilitations for SMEs

Kuwait’s banking association has decided to postpone repayment of loans and credit card facilitations for small and medium-sized companies (SMEs) to help address the consequences of the coronavirus pandemic, Middle East Monitor (MEMO) reports.

The measure, which also includes interest, will only last for six months.
The association has also postponed the repayment of credit card instalments for individuals for six months and cancelled interest accrued as a result of the postponement.

The Gulf country is currently grappling with 191 confirmed cases. 152 of them are currently receiving medical attention.

Nine people quarantined for infection have recovered, the health ministry said on Tuesday.

As part of crackdown on infringement of curbing measure, the national assembly has passed a law vowing a 10-year prison sentence and a fine of up to KWD 30,000 ($100,000) against coronavirus patients who are aware of their infection and hide it and transmit it to others.

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Posted by on Mar 25 2020. Filed under Gulf News, Headlines. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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