Certain Loans Should be Postponed

Oman’s Central Bank has issued a Circular to all banks and finance companies in the Sultanate requiring they postpone the instalments for personal and housing loans offered by classical personal and housing banks and Islamic banks.

The request also covers personal loans given to Omani employees who are on low wages.

The postponement should be for three months from May 2020. Instalments should be postponed without any interest, profit or additional fees being imposed.

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