Tuesday, May 17, 2022 | Shawwal 15, 1443 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Corporates pledge funds for cyclone-hit communities

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Leading public sector organisations, financial institutions and other corporates began pledging financial and other assistance for the victims of this week’s disastrous floods unleashed by Cyclone Shaheen.


Responding to appeals by the Council of Ministers for support, Oman LNG – which owns and operates a major liquefied natural gas plant at Qalhat – pledged RO 6 million in assistance for communities impacted by the cyclone.


“This translates our robust commitment towards touching lives and standing with the community at all times,” the company said in a post.


Oman’s biggest lender, Bank Muscat, announced the contribution of RO 1 million in assistance to people affected by the devastation brought about by Shaheen. The Bank’s contribution will be channelised through the Oman Charitable Organisation.


In addition, the Bank will also provide an RO 20 million portfolio as ‘interest/profit-free’ loans to those who were directly impacted by the cyclone. The loans will be for a period of 1 year, and can be availed within the next three months. Omani customers whose properties in North and South Batinah have been damaged are eligible to apply for these interest/profit free loans ranging from RO 500 up to RO 4,000.


Bank Nizwa, Oman’s leading Islamic bank, pledged to donate RO 250,000 to support families affected by Cyclone Shaheen. This support is accompanied by the participation of Bank Nizwa volunteer team "Masoliyati" in distributing food supplies and aid to the affected families in the North Al Batinah Governorate.


Sohar International announced an allocation of RO 5 million “to support our customers and build back our communities in areas severely affected by Cyclone Shaheen through intereste-free financing”. In addition, the bank announced a three-month deferment on personal and housing loans.


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