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Kuwaiti Banking Association sees re-scheduling consumer loans as "unfair" |
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Sunday, 03 January 2010 00:06 |
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KUWAIT, Jan 2 (KUNA) -- The Kuwaiti Banking Association on Saturday saw the draft law to let citizens pay off their loan interests "unfair." In its latest issue
, the association's (Masaref) magazine reviewed impacts of the draft law by the National Assembly that stipulates re-scheduling consumer loans, as it pointed out impacts of the global economic downturn on the banking sector.
"Impacts of the global financial crisis reflected on the Kuwaiti banking sector, especially cash flow, in light of the Central Bank's monetary policy," the magazine said.
The quarterly magazine also had a special report on efforts by local banks to recruit national labor, which dovetails with the state's Kuwaitization strategy, in addition to other reports, reviews and news. - Kuna
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