Chris Infotainment

KB Kookmin Bank Halts New Mortgage Loan Applications KB Kookmin Bank has made a significant decision to stop accepting new applications for mortgage loans used for property purchases. This includes both in-person branches and non-face-to-face apps. The move is part of an effort to manage the total volume of household loans throughout the year. As a result, KB Kookmin Bank has become the second major commercial bank, following Hana Bank, to block new mortgage loans for property purchases. On the 21st, KB Kookmin Bank announced that starting from the 22nd, it will no longer accept new applications for mortgage loans for property purchases scheduled for execution this year through non-face-to-face apps. Additionally, from the 24th, the bank will also stop accepting new applications at in-person branches. Furthermore, from the 22nd, the bank will halt new applications for its credit loan products, specifically the 'KB Star Credit Loan I·II,' and loan refinancing. Applications fo...

Launch of N2 billion Entrepreneurship Programme for NYSC Members The Bank of Industry (BOI) has launched a groundbreaking initiative aimed at empowering the youth through affordable loans and entrepreneurial support. This new programme, titled “N2 billion BOI–NYSC Entrepreneurship Programme,” was officially inaugurated in Abuja on Wednesday. The initiative is designed to provide National Youth Service Corps (NYSC) members with financial opportunities to start or expand their businesses. Olasupo Olusi, the Managing Director of BOI, announced the programme during the inauguration ceremony. He emphasized that this initiative is part of a broader strategy to address unemployment and foster youth-led enterprises. The programme offers loans of up to N5 million per beneficiary, with a single-digit interest rate of 9 percent per annum. Borrowers will have three years to repay the loan, along with a three-month moratorium on both principal and interest. A Strategic Partnership This partners...

Overview of the New Leap Fund The government has launched a new initiative known as the “New Leap Fund,” which is designed to address long-term delinquent loans by purchasing and eliminating them from small business owners and vulnerable groups. This program is part of President Lee Jae-myung’s commitment to reduce the burden of debts carried by those in need. As a specialized institution, the New Leap Fund operates as a "bad bank," focusing on acquiring and resolving non-performing assets. Who Qualifies for Full Debt Forgiveness? Individuals or sole proprietors with debts of up to 50 million Korean won who have been delinquent for seven years or more and lack the ability to repay are eligible for full debt forgiveness. A total of 1.13 million people, with combined debts amounting to 16.4 trillion Korean won, fall into this category. Starting this month, the New Leap Fund will begin purchasing delinquent loans from financial institutions to forgive these debts. To qualif...

Important Reminder for 2025/2026 Academic Year Loan and Scholarship Applications As the academic year 2025/2026 approaches, students in Tanzania are being urged to act quickly to secure their financial support through the Higher Education Students’ Loans Board (HESLB). The deadline for submitting applications for both loans and the Samia Scholarship is set for 31 August 2025, with no extensions available. This critical date has been emphasized by HESLB officials, who have called on all eligible students to complete their applications before the final day. The board made the announcement on Thursday, 22 August 2025, highlighting the importance of timely submission. Dr. Bill Kiwia, the Chief Executive Officer of HESLB, addressed journalists on 11 August 2025, reiterating that the application period, which began on 15 June 2025, will conclude as scheduled. He noted that only nine days remain until the deadline, urging students to submit their applications early to avoid potential issues...