Mubasher: The Central Bank of Kuwait (CBK) has initiated Diraya (Be Aware) campaign to address the practice of loan encashment and its risks, according to a press release on Wednesday.
The campaign aims to endorse financial awareness across all segments of society and encourage the banking sector’s social responsibility activities in Kuwait.
The risks included in loan encashment can be presenting false documents or signing documents that could lead to imprisonment.
Diraya is managed by Kuwait Banking Association (KBA) with the participation of all Kuwaiti banks.
The CBK is keen on regulating personal lending and financing activity nationwide so that customers benefit from the advantages and facilities without running the risk of default or of overburdening themselves financially.