KD 45,000 to secure homes
KUWAIT CITY, May 23: The Credit and Savings Bank (CSB) has fixed KD 45,000 as the ceiling for housing loans to be granted to divorced or widowed Kuwaiti women, while the maximum monthly installment would be KD 100, reports Al-Rai daily.
According to a source, the bank laid down new loan regulations for Kuwaiti women in order to enable them acquire suitable accommodation at low rates. The bank will forward the regulations to State Minister for Housing Affairs Sheikh Ahmad Al-Fahd on Tuesday, after which the draft will go to the Cabinet which will release it in the form of a decree. He hinted that there is a possibility the minister might insist on raising the loan ceiling to KD 70,000.
However, Kuwaiti women who were not provided any government accommodation previously, don't get housing welfare and don't have any property more than 200 sq mts area under their name would be eligible for the loan. Also, divorced applicants should have been divorced for a minimum of three years and should have children residing in Kuwait to qualify for the offer. Furthermore, the source said, the applicants should prove that they are capable of repaying the loan.
© Arab Times 2011
