The Central Bank of Oman has issued a notification to all active banks and financial leasing companies in the Sultanate, announcing that the deadline for monthly loan repayments for citizens who have lost their jobs has been extended. This extension applies only to Omani citizens.
According to the notification, this extension will continue until the end of December 2025 or until the individual finds new employment. Additionally, during this period, no interest or penalties will be applied to overdue debts, a move aimed at providing further support to those economically affected.
What You Need to Know: The Bank Interest Rate in Oman is 6%
The Central Bank of Oman has set the repo rate at 6%, which directly affects loan interest rates. Banks typically use this rate to determine the interest on loans. The loan interest rates may vary based on the type, term, and economic conditions. For more details, it is recommended to contact local banks or visit their official websites.
Source:
This news has been extracted from Times of Oman. For more details, access through the links below.
Loan repayment deferral for unemployed citizens in Oman extended – Times of Oman
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