Oman Development Bank starts receiving loan applications

Muscat: Oman Development has started the process of receiving applications for loans through its branches from Sunday.

Dr. Abdulaziz bin Mohammed al Hinai, CEO, Oman Development Bank, said that the following categories will benefit from the loan program for those affected by Covid-19.

Full-time taxi owners and driving instructors.

Projects for women, especially cosmetic shops, and babysitters in the category of self-employed.

Small and medium-sized enterprises in the category of entrepreneurship holders, including borrowers for Al-Rafd Fund.

The most severely affected micro-enterprises among Oman Development Bank borrowers and customers.

The loan repayment period will be four years, of which six months will be the grace period.

The loan will be approved and amounts will be sanctioned within three working days.

The government directives to reschedule the loans for a period of six months are clear and the bank has completed the scheduling process because the numbers are large, said Hinai.

 

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