Executive Summary
Mortgage law is one of the most awaited legislation in Kuwait, given the country’s low housing affordability, capital concerns of Kuwait Credit Bank and long waiting list of housing applications. From involving banks in the financing mix to increasing the loan limit, the proposed law seeks to introduce many changes to home financing in Kuwait. The impact of the mortgage law on banks would be manifold. The proposed mortgage law would also impact other stakeholders such as Kuwait Credit Bank and home buyers. However, the law would need additional measures such as easing supply side constraints, refinancing facility etc. to ease Kuwait’s housing problem and strengthen the mortgage market.
