Loan Financing Process

Have you ever applied for a loan or financing?
Have you ever wondered about the importance of the steps you had to follow?

The process of borrowing and financing is considered to be one of the most common banking operations, and can sometimes be one of the most complexes. Therefore, the Central Bank of Kuwait established clear and specific policies for loan operations along with instructions for banks and finance companies to provide customers with loan details such as:

In addition, customers are entitled to a minimum of two days as a reflection period to thoroughly review the contract before signing it.

Funding Steps

The Central Bank of Kuwait instructed banks and finance companies to provide customers with financial advice before and during the financing. In addition, the risks of increasing financial obligations are explained, especially in case of any change due to a person’s financial situation such as a change in employment, retirement, or a change in the applicable interest rate.