Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 3349

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 relates to public policy. The effect thereof.
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. أثر ذلك.
Original Arabic judgment citations

(الطعن ٢٢٧/١٩٩٠ تجاري جلسة ٢٧/١/١٩٩٢ مج القسم الثالث - المجلد الثالث ص ٣٩٧)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 564. PDF pages: 564.

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