19 Jun 2011
(MENAFN) In order to open up Kuwait’s underserved house loans market, some banks in the country started to call for renovation in the mortgage regulations, according to a commercial bank, reported Arabian Business.
The bank added that conventional banks in Kuwait were upset and began to increase pressure on the government since mortgage loans formed a huge problem in the country; moreover, Islamic banks offered home financing packages unlike conventional ones.
It also said that since the Kuwaiti government banned companies from investing in real estate in order to curb inflation and restricted foreign ownership of assets, property prices in the country fell around 30 percent. Furthermore, the shortage in mortgage options left many Kuwaitis struggling to secure financing in order to buy their own home
It is worth noting that a government lending plan offered first time buyers a loan of USD254,684 and many nationals apply for a 15 year personal loan for another USD254,684.
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more