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Kuwaiti lenders reject loan inflation allegations
- Kuwait: Thursday, March 28 - 2013 at 01:09
The Kuwait Banking Association has rejected allegations about local banks inflating loans that sparked negotiations between the legislative and executive authorities about a debt relief scheme, and reiterated the lenders' right to "defend their legal and constitutional rights," Kuwait Times has reported. Lawmakers proposed the bill based on speculations that violation of central bank regulations led to loans mounting to incredibly high levels, thus making it difficult for the citizens to repay them. The KBA said lawmakers need to "reconsider the language of political discourse and terms being used to blatantly incite the people against the banking sector."
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