The agreement to add the local telecommunications companies to the SciNet credit information network is on the right track and will be allowed to obtain a report that categorizes the clients of telecom companies, which predicts their ability to pay, saying SciNet had previously obtained the approval of the Central Bank of Kuwait in this regard.

This comes after telecom companies had previously asked SciNet officials to include their customers’ database on its network, within the field available to banks, which determines the customer’s quality, history, the size of his loans and the regularity in paying installments, and all the credit information that helps them in determining the risks of dealing with the new customer, which faced legal and supervisory resistance, on the grounds that making credit information available to telecommunications companies violates banking secrecy, and that the sector is not subject to the supervision of the CBK and therefore does not apply to it the deduction of installments specified at 40 percent of the salary for employees and 30 percent for retirees, reports a local Arabic daily.

The sources stated that the most likely scenario for implementation is that the telecommunications companies will be listed on SciNet o later identify the customer’s personal data according to credit cards, and the history of his payments in communications before contracting with him.

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