MUSCAT: The Central Bank of Oman (CBO) on Tuesday said it will allocate OMR 7 million from the fees due to the CBO and other banks operating in the country in the next five months to beneficiaries affected by tropical cyclone Shaheen.

The allocation of “fee income” received by the CBO and banks operating in the Sultanate during the next 5 months, estimated at about OMR 7 million, to beneficiaries affected by the cyclone.

CBO said it will coordinate with the concerned government agencies to transfer the amounts collected from these systems to the bank accounts designated to assist the affected people.

The Central Bank of Oman also called on all banks to contribute to mitigating the repercussions of Cyclone Shaheen on citizens, residents and their properties through a direct donation to the accounts designated for aid for this purpose.