الإطار العلمي لمعالجة أزمة القروض العقارية في دولة الكويت

الملخص EN

Scientific Framework to Treating the Real Estate Loan Crisis he State of Kuwait has witnessed a clear prosperity in the field of real estate loans from 2003 until 2008.

This was directly related to the political stability which spread in the gulf region in general and in the State of Kuwait in particular.

During that period of time, oil prices increased, the cash offer in the State increased and so did the financial liquidity in the financial establishments which grant real estate loans, despite the increase of the interest rates of these real estate loans.

As the prices of construction materials and expenses increased in an unprecedented way, the pitfalls and inability of some parties to pay for the real estate loans became prominent.

This, in turn, resulted in the aggravation of the global economic crisis which hit the US economy at the beginning of 2008 and which affected worldwide economies more seriously, and still is to this very moment.

Real estate loans have many drawbacks, the most prominent of which is the deviation of interests and their incompatibility among the contractual parties.

In addition, they are financing tools which contradict the Islamic Sharia Law.

The researcher found it most essential to stop at the downsides and to look for the best kinds of contracts which correspond to the Islamic Sharia Law, not just to achieve the common interests of the contractual parties, i.e.

the real estate financing banks and their clients who are working in real estate, but rather to achieve a general direction of the public opinion in Kuwait and in the civil community in general.

He shall achieve the above by presenting the most important financial and political tools which were adopted by the Central Bank of Kuwait to shake off this crisis.