Banks committed to implementing provisions of Law No. (59) of 2025: KBA

The Kuwait Banking Association (KBA) said all Kuwaiti banks are fully committed to implementing the provisions of Law No. (59) of 2025, which amends certain articles of the Civil and Commercial Procedures Law, particularly concerning the seizure of a debtor’s funds held by third parties.

This reflects, the Al-Rai daily said quoting banking sources, the sector’s adherence to judicial and legal obligations.

The Association explained that banks receive executive seizure orders electronically from the Enforcement Department via the department’s registered email system. Upon receiving a seizure report, banks immediately freeze the specified debtor’s account and declare the amount owed within the timeframe set by law.

The seizure remains in effect until the bank receives an official seizure-lift notification from the Enforcement Department, also sent electronically. Banks implement the seizure in accordance with the amounts, percentages, and procedures detailed in the seizure order.

The KBA emphasized that banks, as institutions governed by law, are fully bound to comply with instructions issued by judicial and supervisory authorities, and they continue to take all necessary steps to enforce such directives efficiently and transparently.

It also highlighted that member banks are prepared to receive complaints and suggestions related to seizure procedures through their official customer service channels. Banks are committed to addressing these concerns promptly and with professionalism.

The Association reiterated that banks respond immediately to seizure-lift requests, ensuring that affected accounts are released without unnecessary delay. This commitment is part of the banking sector’s broader efforts to uphold transparency, safeguard rights, and maintain public trust in financial and legal procedures.