An explanation was issued by Kuwait to dispel misconceptions about financial guarantees.
According to details, Safa Al-Hashim, head of the parliamentary finance committee, said that the approval of the council to repay the loans of foreigners does not mean that the loans will be repaid to foreigners.
He made it clear that the "financial guarantee" was not meant to pay off the debts of immigrants, but was an attempt to save the rest of the economy.
Safa al-Hashim said that the Financial Security Act was in place but the rumors circulating regarding the approval of the Council for the Repayment of Foreign Debts were wrong.
He said that according to the bank credit study, this financial guarantee will be given to the customers who have been affected by the corona virus and those who do not deserve it will not get a single penny, ie the corona virus from the bank. The Financial Security Act will guarantee the loans that will be given to the affected consumers.
Al-Hashim said that if we repay the loans of foreigners under financial guarantee, it would be a disaster.
Al-Hashim said the Financial Security Act protects the business of small and medium-sized business owners and even those with a turnover of more than 5 to 10 million, whatever the economy survives after the epidemic. Trying to save him.
