Banks should not Calculate Interests on Postponed Loans

The Central Bank of Bahrain has issued a circular to banks and finance companies directing them not to calculate any interest on the postponement of loans for six months starting from March to August 2020.

The circular said original loan repayments should be stopped for six months and that no additional interest or fees should be imposed on customers. In addition, interest rates and repayment amounts should remain the same throughout the credit term and as they were before the postponement.

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