Kuwaitis borrowed $ 1.3 billion last December, raising total loans to $ 41 billion and bringing the number of borrowers to about 435,000 by the end of 2018, official data from the Central Bank of Kuwait showed.
According to the official data, the number of borrowers citizens represent more than 93% of the workforce in the country under the age of 50 years, noting that the average monthly salary of borrowers amounted to 3600 dollars, while the average consumer loan $ 12 thousand, and housing about 76 thousand Dollars.
The large increase in the volume of borrowing for Kuwaitis coincides with one month, with the Central Bank's decision in November raising the borrowing ceiling to 25 times the net salary after only 15 times, which increased the appetite of borrowers to get more money from the banking sector , According to observers.
The first changes made by the Central Bank of Kuwait (CBK) since 2004, are the first amendments to the rules for granting loans and personal finance operations, noting in a statement on its website that the changes took into account changes in the local economic performance indicators 2004-2017.
While others believe that the reason for the large increase in the borrowing of citizens, due to the reports of the cancellation of non-performing loans by members of the National Assembly, during the past months, where citizens went to obtain more loans in the hope of dropping them later and benefit from the funds, which Not yet.
The amount of loans granted to citizens is $ 41 billion, whether it is consumer loans or private housing loans, while the ratio of non-performing loans of these loans to about $ 200 million, or 0.5%.
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