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First: Transfer the client's debts to the other banks to KFH:

 

  1. The customer wishing to transfer his debts to KFH shall sign a debt declaration request certificate (consumer – instalments). The certificate is sent to the customer’s current bank to provide us with the required debt certificate.
  2. Upon receipt of the debt certificate, the transaction is completed with KFH and then a letter of pledge is sent to the current client's bank in exchange for transferring the customer's salary to KFH.
  3. The current client bank completes the necessary procedures according to the approved mechanism and provides KFH with a certificate(No objection to transfer salary) .

 

Second: Repayment of "KFH" debts by local banks:

 

  1. KFH receives the debt certificate request (consumer – instalment)  from the bank to which the customer wishes to transfer his salary. aThe certificate is sent to the concerned bank via e-mail in accordance with the terms and conditions.
  2. The transaction shall be processed by the concerned bank and KFH shall be provided with a letter of undertaking to settle the debt against salary transfer to the concerned bank.
  3. The necessary procedures are completed according to the approved mechanism and a no objection certificate shall be issued to transfer salary as per the applicable rules and conditions.
  1. The customer may change the debit account as he deems appropriate provided that it should be the same account where salary is transferred.
  2. The client may change his account number in KFH to another account provided that a temporary guarantee is provided until the salary transfer is completed with no outstanding or late amounts on the client, whether they are debts or guarantees.
  1. In order to change the type of guarantee, the client is requested to specify type of the new guarantee (deposit, saving, or bank guarantee), in addition to personal guarantor providing "Salary Certificate" and copy of his civil ID. To change the guarantee, there should be not any late or due payments, and the client is requested to provide original civil ID.
  2. To cancel the guarantee, there should be no due or late payments, and the client must provide a recent "Salary Certificate".

*The credit policy of KFH applies.

  1. Repayment of all customer debt (premium personal finance).
  2. Partial customer payment (installment finance).
  3. Issuing a clearance certificate / debt certificate.
  4. Request a debt certificate (installment finance).
  5. postponement of installments (installment finance) year 10 months year/ 11 months.
  6. Dropping the last payment of debt (installment finance).
  7. Mortgage write-off for indebtedness (installment finance).
  8. Request a certificate with a specific formula for customers (installment finance).

A process of refunding excess  installments which have been deducted from the customer's account in favor of the debt for the following reasons ( customer paying debt installments in advance without amending the deduction scedule, installments transfered by the customer's bank to KFH in excess of the debt amount or discount on settlement of full debt). In this case, customer's liabilities must be reviewed to ensure no arrears exist. Thereafter, excess installments collected shall be refunded to the customer who shall be given a standing orders  cancelation letter so that the deduction of installments from the other bank shall be ceased if required.