Muscat: His Excellency Mahmoud bin Abdullah Al-Awaini, Chairman of the Board of Directors of the Development Bank, said the bank has placed the implementation of the supreme directives at the forefront of its priorities during the current phase. He noted that the bank has already begun assessing the sectors and projects most impacted by ongoing regional developments and their economic repercussions.

H.E. Al-Awaini explained that the study will examine the feasibility of deferring loan repayments for eligible projects financed by the bank. The move aims to ensure business continuity, reduce the impact of external challenges, and help enterprises benefit from opportunities that may arise in certain sectors despite the prevailing circumstances.

He added that the bank is also evaluating the possibility of providing additional financial facilities and support mechanisms to enable affected projects to cope with the changing economic environment.

To streamline the process, the Development Bank plans to launch a dedicated electronic platform through which beneficiaries can submit loan deferral requests. The requests will be reviewed by specialised teams within the bank to ensure a flexible and efficient response that meets the needs of small and medium-sized enterprises.

H.E. Al-Awaini expressed appreciation for the continued support and patronage extended by His Majesty Sultan Haitham bin Tarik to the private sector and SMEs. He highlighted His Majesty’s directives calling for the integration of government efforts to support business owners, citizens, and residents across the Sultanate of Oman, reinforcing the country’s commitment to economic resilience and sustainable growth.