• Oman

    • Banking incentives offered by the Central Bank of Oman

    By on March 9, 2021

    Economic and investment incentives with a direct impact in the short term

    Muscat: Banking incentives offered by the Central Bank of Oman

    1, Continuation of postponement of the repayment of loans taken by Omanis who have been laid-off and those whose wages have been reduced-wage loans until the end of September of this year and till further notice

    2, Instructing banks to continue responding to requests to postpone the installments and interest of all borrowers affected by the repercussions of the current situation for another six months until the end of September 2021, without prejudice to their credit rating

    3, Continuing the incentive package related to granting credit. This includes raising the ceiling of the loan ratio, facilitating loans to affected and productive sectors, reducing reserve capital ratios and other measures aimed at helping banks, finance and leasing companies to play their roles in supporting economic recovery efforts in the Sultanate and improving the liquidity ratios in the local market.

    4, Cooperating with banks, finance companies and financial leasing to reschedule loans to match the new cash flows of borrowers to enhance their capabilities to fulfill their contractual obligations towards financing institutions – in accordance with emerging economic developments, without imposing fees for rescheduling. said in the statement issued by Ministry of Economy.

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