The Kerala Police have initiated legal action by filing ten First Information Reports (FIRs) against Keralites who left Kuwait after obtaining loans and failing to repay them.
In total, about 1,425 individuals from Kerala, including approximately 700 nurses, have defaulted on loans amounting to around Rs 700 crore. These individuals, who had moved to Kuwait, have since relocated to other countries, leaving their debts unpaid.
A team of officials from Kuwait recently visited Kerala’s capital city and held extensive discussions with senior Kerala Police officials. Following these discussions, a decision was made to register cases against those who left Kuwait without settling their loans. Based on these complaints, Kerala Police have now registered ten FIRs, and the investigation is being spearheaded by an Inspector General of Police.
Of the ten FIRs, cases have been lodged in Kottayam and Ernakulam districts. A significant case has been filed at the Kumarakom police station in Kottayam district, with the complainant identified as Kuwaiti national Muhammad Abdul Vassey Kamran. The loans in question were provided by the Consumer Credit Department of the Gulf Bank, Kuwait, located on Mubarak-Al Kabeer Street in Safat, Kuwait.
The issue came to light in 2022 when the Gulf Bank authorities discovered substantial defaults in loan repayments. Upon further investigation, it was revealed that many of the defaulters had already left Kuwait, relocating to countries such as the United States, the United Kingdom, and Canada, or returning to different states in India.
The loans involved ranged from Rs 50 lakh to over Rs 1 crore, with the defaulters benefitting from Kuwait’s favorable currency exchange rate. Currently, one Kuwaiti Dinar (KD) is equivalent to Rs 275, making it the highest-valued currency in the world. By contrast, one US Dollar equals Rs 89.
Authorities are now working to track down the defaulters and take appropriate legal action to recover the outstanding amounts.
