KUWAIT EXPERIENCED 66 MONTHS OF CHECK BOUNCES TOTALING KD 426 MILLION

  • 19/08/2022

Kuwait City: According to data issued by the Central Bank of Kuwait from January 2017 to the end of June 2022, checks (cheques) worth 426 million dinars bounced due to a lack of bank balance, with 45% of the value of these checks worth 192.7 million dinars occurring during the Covid-19 pandemic, specifically from January 2020 to the end of last June, but the number of bounced checks and their clients has decreased since the start of the pandemic until now.


The data showed that the period from July to the end of December 2022 had the highest number of bounced checks with a value of about 82.8 million dinars, which constitutes 19.4% of the total value of bounced checks, followed by the period from January to June 2018 worth 44 million dinars, and third place came in the second half of the same year, with checks worth 42.1 million dinars, and fourthly, for the period from July to December 2019 with a value of 37.6 million dinars.

From January 2017 to the end of last June, the total number of returned checks for lack of balance was 27,206 thousand checks, with a noticeable decrease in the number of such checks since the start of the Corona pandemic.

The first half of 2018 saw the most bounced checks due to a lack of balance in Kuwait, with 3529 checks, followed by the first half of 2017, with 3329 checks, the second half of 2018, with 2,940 checks, and the fourth half of 2019 with 2,696 checks. The second half of 2019 came in fifth place with 2,696 checks.

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