Debtor accounts to be frozen on court order
KUWAIT CITY, June 29: Kuwait Banking Association (KBA) has stated that, in compliance with Law No. 59/2025 for amending certain provisions of the Civil and Commercial Procedures Law, all Kuwaiti banks are committed to strictly abiding by the law's provisions, particularly regarding the seizure of debtors' balances, to ensure full compliance, and to protect the rights of all parties involved. In a press release, KBA explained that banks receive executive seizure reports on debtors' funds electronically from the Judicial Execution Directorate via its official email.
Upon receiving a seizure report, banks freeze the relevant accounts until they receive a lifting report from the Judicial Execution Directorate, based on the specified percentages and instructions. Kuwaiti banks are taking all necessary measures to ensure the proper implementation of the law. Furthermore, KBA affirmed that member banks are fully prepared to receive complaints and suggestions through their official channels and to address them diligently.
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