The majority of local banks began the year 2024, especially the largest ones, with a more stringent lending policy towards expatriates than in 2023, which indicates that the credit focus is still directed mainly towards Kuwaiti customers, and a selective segment of non-citizens, led by the elite and specialists.
Responsible banking sources told “Several banks have tightened their credit belt more on expatriates to narrow the circle of jobs whose owners are allowed to be financed, while some of them excluded from their books low-income people and clients whose salaries are less than 600 dinars per month, especially employees of companies not listed on the stock exchange.”
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