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Kuwaiti banks are preparing to adopt a new punitive mechanism, whereby customers suspected of falsifying their papers and loan documents will be denied access to any new funding, pending the end of the investigation.
Sources revealed that “the blacklist of loans will not be limited in the future to only mentioning the names of counterfeiters, but will also include suspects”, specifying that “according to this mechanism, the names of customers suspected of having obtained loans based on false papers will be included on the Credit Information Network (SAI.Net), so that their names are disseminated to all funding agencies, ”according to Al-Rai newspaper.
She explained that “the papers provided include a salary certificate, continuity of work and other documents that customers must submit to banks to obtain loans, or papers submitted on behalf of shell companies.”
She underlined that “just as all the units of the banking and financial system are obliged to refer to the network (Scinet) to indicate whether the applicant has the right to obtain a loan or to increase his financing area, or s ” he has exhausted the maximum limit for his loan and its maturity, he will also have to refer to the network to find out if The client is suspected of having falsified one of the documents required to obtain a loan from another financing organization or not.
The sources pointed out that “under this mechanism, if the client’s name is placed on the list of false suspects, he will be prevented from obtaining any new financing, or restructuring his loan, until the investigation is completed. “.
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