State Council’s bank loans, insurances team meets CEOs of local banks

Muscat: The working group formed by the State Council to study “Bank Loans and Insurances” on Thursday hosted a number of CEOs of local banks and CEO of the Oman Banks Association (OBA), to enrich themes of the study.

The meeting was chaired by Honorable Sayyid Dr Said bin Sultan al Busaidi in the presence of the Honourables team members, the Secretary General of the State Council with the CEOs.

The meeting discussed a number of themes of the study, including the controls, requirements, regulations and legislations organizing personal loans and the granting of credit cards, especially for those over the age of (60) years, and the banks’ justifications for not giving personal loans to those whose salary is less than RO (500), especially those working in the private sector.

The meeting also touched on the justifications for obligating expatriates to close their bank accounts after the end of their work in the Sultanate.

The meeting was attended by Waleed bin Khamis al Hashar, CEO of Bank Muscat, Said bin Abdullah al Hatmi, CEO of Al Ahli Bank, Abdul Hakim bin Omar Al Ojaili, CEO of Bank Dhofar, Dr Abdul Aziz bin Mohammad al Hinai, CEO of the Oman Development Bank, Rashad bin Ali al Musafir, CEO of Oman Arab Bank, Khalid Jamal Abdul Kareem al Kayed, CEO of Nizwa Bank, and Ali bin Hassan bin Moosa, CEO of the Oman Bank Association. –ONA

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