MUSCAT – In a statement released online, the Bank said: “With reference to what has been circulated on social media regarding the financing services provided by the Development Bank, the Bank would like to point out that the information provided in this context contains many inaccuracies and does not reflect the actual working mechanisms adopted in providing services to beneficiaries.

The Bank affirms its full commitment to providing its financing services with integrity and transparency in accordance with the provisions of Royal Decree No. 84/2023 regarding the reorganization of the Bank, and the relevant regulations and decisions.”

The Bank also clarified recent high directives issued by His Majesty Sultan Haitham bin Tarik concerning government intervention in specific loan categories. These directives apply exclusively to non-performing and closed loans financed through the government loan portfolio at the Development Bank, as well as those formerly financed by the Al Raffd Fund.
“Accordingly, the bank urges everyone to exercise due diligence and rely solely on its official channels to obtain information related to its banking services, in compliance with the provisions of the aforementioned decree and related regulations and decisions,” the statement concluded.