The Kuwait Credit Information Network Company also known as CINET, is considering entering the real estate sector by offering services to property owners that would allow them to electronically verify the financial reliability of prospective tenants, reports Al-Jarida daily. The discussions have centered around the company’s potential entry into this sector contingent upon the organization of rental operations and the approval of a unified electronic rental contract.

This streamlined approach would facilitate CINET’s ability to provide its services efficiently, a departure from the current practices. The real estate sector is highlighted as a primary target for CINET due to its significant impact on both individual and corporate incomes. The proposed service would enable landlords to assess the financial stability of tenants, aiding in informed decisions regarding lease agreements. It is viewed as a beneficial option for property owners who face challenges such as irregular rent payments due to tenant defaults.