Muscat: The Central Bank of Oman (CBO), has urged all Banks / Finance and Leasing Companies to defer loan / finance installments to alleviate the sufferings for people affected by the recent rainfall.
In a statement CBO said :”The Central Bank of Oman directs to postpone installments to mitigate the repercussions of the weather condition that the Sultanate of Oman witnessed recently for individuals whose salaries are less than OMR 3,000 and small and micro enterprises.”
“The postponement shall be in accordance with the following controls:
1-Banks / FLCs shall defer up to a maximum of three instalments of the loans / finance based upon the request of the borrower or defer up to a maximum of four instalments ( including Eid Waivers ).
2-Interest / profit on Interest / profit should not be levied during the period of deferment.
3- No charges shall be levied for processing the deferment request.
4- The impact of deferment and the revised repayment schedule should be provided to the ” affected persons ” before granting deferment, ” the statement added.
more recommended stories
-
Oman’s Iron ore production contributes 2% to GDP, Omanization 45 pc
Oman’s Iron ore production factories reaches.
-
Indian expatriates in Oman celebrate Diwali with festivities and dazzling lights
Muscat: Homes of several Indian expatriates.
-
HH Sayyid Theyazin to Patronize Over International Forum of Sovereign Wealth Funds in Muscat
Muscat: His Highness Sayyid Theyazin bin.
-
Oman set to participate at World Travel Market (WTM) 2024 in London
Muscat: The Sultanate of Oman, represented.
-
79 projects worth over RO 10mn implemented in Al Dakhiliyah Governorate
Al Dakhiliyah Governorate seeks to 14.
-
Oman Opens e-Registration for 1446 AH
Oman Opens Hajj Electronic Registration for.
-
Omani FM Urges More Western Pressure on Israel to End Middle East Offensives
London: Sayyid Badr bin Hamad Al.
-
Oman, Kuwait sign 9 MoUs in Multiple Fields
Kuwait: The 10th round of Oman-Kuwait.
-
Kuwait’s Crown Prince Receives Omani FM
Kuwait’s Crown Prince Receives Omani Foreign.
-
Kuwait Prime Minister receives Omani FM
Kuwait: Sheikh Ahmad Abdullah Al Ahmad.