Kuwait city: The acting director general of Kuwait Credit Bank, Sultan Al-Dabbous, announced that the cabinet has issued resolution 1107/2025, approving the renewal of the financial portfolio dedicated to funding the expansion and repair of private houses for a 20-year period starting from August 10, 2025.
According to Kuwait News Agency, Al-Dabbous emphasized in a press statement that this decision marks a significant move by the leadership to finance and facilitate citizens' access to private residences. The initiative is rooted in law 46/2005, which established a financial portfolio at the credit bank to support the expansion and rehabilitation of private houses. Article ONE of the law specifies the creation of a KD 100 million financial portfolio, valid for 20 years and subject to renewal upon a cabinet decision.
Al-Dabbous noted that the cabinet previously issued resolution 81/2006 on February 27, 2006, which set the regulations for the portfolio and outlined the requirements for beneficiaries. The decision primarily aims to assist citizens, particularly those seeking marriage, and those with unused plots of land or older houses that have remained unoccupied for extended periods.
Since the implementation of the law, over 13,000 loans have been granted to citizens, with a total value exceeding KD 127 million (USD 419 million).