Muscat: The Central Bank of Oman (CBO) has allowed a three-month moratorium on payment of installments of Omani employees working in the private sector in view of the disruption caused due to the coronavirus outbreak.
In a circular issued on Wednesday, CBO has asked all financial institutions to implement the decisions of the Supreme Committee. To support the citizens, the Supreme Committee in a decision issued on April 15 asked banks and financial institutions to defer the loan repayments of Omani workers without any interest. Most of the companies in Oman have reduced the salary of employee due to the pandemic crisis.
According to the notification, the loan repayments must be stopped for a period of three months starting from May without taking any interest or additional charges.
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Earlier on Wednesday, two Islamic banks in the country – Bank Nizwa and Alizz Islamic Bank has announced that it will defer the loan repayments of its customers for three months.
Oman on Wednesday reported 106 coronavirus cases, of which 71 are expats and 35 Omanis. The total cases touched 1,614.
