Latest news with #AbdullahAl-Othman
Arab Times
01-05-2025
- Business
- Arab Times
Assets unlocked, exit still blocked
KUWAIT CITY, May 1: In line with Decree-Law Nos. 58 and 59/2025, amending Bankruptcy Law No. 71/2020 and Civil and Commercial Procedures Law No. 38/1980; the enforcement departments on Wednesday started to lift the seizure of all debtors' assets held by banks, pending the adoption of a new mechanism for dealing with debt cases. Under the new amendments, Head of the Enforcement General Administration Counselor Abdullah Al-Othman sent a letter to the governor of the Central Bank a week ago, instructing banks to seize only half of the debtors' salaries. Sources stated that travel bans and vehicle seizures remain in place until the new procedures are finalized. Sources said the Enforcement General Administration attributed these procedures to the issuance of Decree-Law No. 59/2025, amending certain provisions of the Civil and Commercial Procedures Law. Sources added the administration has started amending the computer system regarding the seizure of debtors' assets held by third parties to impose a seizure on the salaries of debtors (those subject to execution) at a rate ranging from 25 percent to 50 percent of the salary, as determined by law, based on the nature of the debt and the place of work of the debtor.
Zawya
24-04-2025
- Business
- Zawya
Kuwait: Banks cannot deduct full salaries of debtors
KUWAIT CITY - The Head of the General Administration of Execution, Counselor Abdullah Al-Othman, has affirmed that banks are not permitted to recover debts from the debtor's entire salary. In an official letter addressed to the Governor of the Central Bank of Kuwait, Al-Othman referred to the recent enactment of Decree-Law No. 59 of 2025, which amends certain provisions of the Civil and Commercial Procedures Law (originally issued under Decree-Law No. 38 of 1980). The amendments affect Articles 227 and 230, which pertain to the process of confiscating assets held by third parties and confirm that such seizures shall remain in effect unless lifted by the Execution Department. Al-Othman highlighted a concerning trend where some banks have recovered from full salaries of individuals working in government ministries, private companies, and the oil sector. He emphasized that this practice violates Article 216, paragraph (z) of the Civil Procedure Code. This article states: 'Without prejudice to other applicable laws, the following may not be seized: wages and salaries, unless regulated by a special law, and even then, only up to half the amount.' He urged the Central Bank to issue directives to all banks, instructing them to comply with the legal limits on salary seizures as stipulated in the law and related regulations. He also pointed out that enforcement reports issued by the Execution Department explicitly require banks to 'abide by the legal provisions governing salary seizures.'
Arab Times
23-04-2025
- Business
- Arab Times
Banks cannot Deduct Full Salaries of Debtors
KUWAIT CITY, April 23: The Head of the General Administration of Execution, Counselor Abdullah Al-Othman, has affirmed that banks are not permitted to recover debts from the debtor's entire salary. In an official letter addressed to the Governor of the Central Bank of Kuwait, Al-Othman referred to the recent enactment of Decree-Law No. 59 of 2025, which amends certain provisions of the Civil and Commercial Procedures Law (originally issued under Decree-Law No. 38 of 1980). The amendments affect Articles 227 and 230, which pertain to the process of confiscating assets held by third parties and confirm that such seizures shall remain in effect unless lifted by the Execution Department. Al-Othman highlighted a concerning trend where some banks have recovered from full salaries of individuals working in government ministries, private companies, and the oil sector. He emphasized that this practice violates Article 216, paragraph (z) of the Civil Procedure Code. This article states: 'Without prejudice to other applicable laws, the following may not be seized: wages and salaries, unless regulated by a special law, and even then, only up to half the amount.' He urged the Central Bank to issue directives to all banks, instructing them to comply with the legal limits on salary seizures as stipulated in the law and related regulations. He also pointed out that enforcement reports issued by the Execution Department explicitly require banks to 'abide by the legal provisions governing salary seizures.'
