Expatriates have borrowed around KD. 207 million in consumer loans, as of December 31, 2020, Al Anbaa reported quoting official data.
According to the data of the Central Bank of Kuwait, the consumer loans granted to citizens is 7 times the volume of consumer loans granted to expatriates residing in Kuwait.
It is worth noting that consumer loans are medium-term personal loans that are provided either to citizens or residents and are to finance the purchase of his personal needs of consumer and durable goods or cover educational or medical expenses. The loan is repaid in monthly installments within a period not exceeding 5 years.