Kuwait Electronics, Furniture Companies May Stop Installment Sale
- Publish date: Saturday، 20 May 2023
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Major electronics and furniture companies in Kuwait may soon stop selling their goods in installments, local Arabic media reported.
This step came after the decision issued by the Minister of Commerce and Industry forbids these companies to increase the value of the product over the value of the declared price if sold in installments.
The decision includes setting a ceiling for installment sales at 5,000 dinars to be paid in equal monthly installments within a period not exceeding 3 years.
This decision is said to be negatively affecting the revenues of electronics and furniture companies if they sell goods for the same value in cash and in installments, according to reports.