Muscat: The Central Bank of Oman (CBO) has called for postponing loan repayment installments and financing for those affected by the recent low-pressure system.
The Central Bank of Oman called on all banks, financing, and leasing companies to postpone collecting installments to mitigate the repercussions of the tropical situation on those affected.
The target groups are individuals whose salaries are less than RO3,000 Controls and small and micro enterprises.
All banks should postpone monthly installments for borrowers up to no more than three installments or not to exceed four installments (including the Eid installment).
They shall not collect any profit interest during the postponement period and do not impose any fees associated with the postponement process.
Banks should explain the impact of the postponement of the loan payments and provide them with a new schedule before the start of the process.
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