Decree-Law on Housing Finance for Beneficiaries
Decree-Law No. 114 of 2026 on Mortgage Financing for Eligible Citizens in Kuwait has been issued to ensure the provision of decent housing for citizens and to eliminate financial obstacles that hinder this goal. The decree states that the beneficiary is responsible for repaying the supported and unsupported principal of the mortgage, along with interest. It allows for repayment in equal monthly installments over a period not exceeding 25 years. The decree also sets out the eligibility criteria for financing, including that the beneficiary has not previously received housing support or mortgage loans. Financing must be provided through authorized institutions in accordance with specific regulations. Additionally, the bank is empowered to sign contracts and manage the funds involved to ensure the continuity of the financing. The decree regulates procedures for rescheduling loans, registering financing cases, and managing mortgaged properties. It stipulates that mortgaged properties cannot be transferred or disposed of without prior approval from the bank. Overall, the aim is to create a stable and transparent financing environment that promotes sustainable housing support for citizens in the future.
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