Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 120

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Agreement on interest exceeding the rates announced by the Central Bank. It must be reduced to the rates announced on the date the agreement was concluded. This concerns public policy.
Arabic original
الاتفاق على فوائد تزيد على الأسعار المعلنة من البنك المركزي. وجوب تخفيضها إلى الأسعار المعلنة في تاريخ إبرام الاتفاق. تعلق ذلك بالنظام العام.
Original Arabic judgment citations

(الطعن ٢٢٦/٩٠ تجاري جلسة ٢٧/١/١٩٩٢ مج القسم الثالث - المجلد الثالث ص١٠٤١)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 31. PDF pages: 31.

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