Kuwait: Draft Law Calls on Government to Purchase Kuwaiti Citizens’ Loans

Kuwait News developments

Kuwait: Draft Law Calls on Government to Purchase Kuwaiti Citizens’ Loans

Kuwait Times, 7 December 2022: The Kuwaiti National Assembly’s Legal and legislative committee has approved a draft law calling on the government to purchase consumer and personal loans of Kuwaiti citizens to help them cope with the sharp rise in prices of goods and the high inflation rate.

The bill proposes the government purchase the loans by deducting the cost-of-living allowance paid every month by an amount not exceeding 120 Dinars a month.

Citizens who will not benefit from the proposed legislation will continue to receive their cost-of-living allowance as usual.

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