Kuwait Court of Cassation principle number 301

Banking operations. They are considered commercial acts, whether on the part of the bank or on the part of its customers. Art. 5 of the Commercial Code. The implication of this: loans contracted by banks are commercial acts by their nature, regardless of the borrower's capacity or the purpose of the loan. - 60 - Commercial - Statutory interest accrues on the balance debt from the date of closure of the current account unless the parties agree otherwise.