The Central Bank of Kuwait has approved amendments to the list of fees for banking services offered to individuals and companies, sources told Al-Rai.
The sources pointed out that the increase in commission for a service was approved, while a bank proposal was rejected to increase the second service fee. The Central Bank also allowed the introduction of new fees that banks had not previously worked on.
According to the sources, the bank's checkbook commission was increased by between 4 and 65 percent to become a 10-page checkbook (without modification). The 25-page checkbook issuance fee is 5 dinars, JD 3 in the past, and the issuance of the 50-page checkbook to JD7, up from JD5.
The central bank allowed the banks to collect a commission on the cash disbursement of checks starting at JD10,000 and above JD 2.5, deducted from the beneficiary. This fee was introduced and the banks did not apply it in the past.
The sources pointed out that in accordance with the instructions issued in this regard, customers will be excluded from the elderly (60 years and above), as well as persons with special needs from the payment of this fee, which applies only to the cash disbursement of checks, and checks deposited directly in the account There is no change and will remain as it is a free banking service provided without any fees being charged.
The sources said that the Central Bank refused to get banks to charge fees to pass checks through electronic clearing, indicating that the banks proposed to receive fees for these operations, on the basis that these fees compensate for the expenses spent on the requirements of the application of the electronic system, and the consequent expenditure Logistical, maintenance and service provided by the bank's employees, but the Central Bank rejected the proposal.
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