MUSCAT: The Central Bank of Oman (CBO) has set June 30, 2026 as the deadline for individuals and small and medium-sized enterprises (SMEs) affected by recent weather conditions to apply for a loan instalment deferment scheme, as part of measures to ease financial strain.
In a statement, the CBO directed banks and financial institutions to allow eligible customers to defer repayments on personal, housing and business loans, subject to approval. The deferment will cover a minimum of two instalments and may extend to up to three instalments in certain cases, including partial exemptions.
The scheme applies to individuals and SMEs whose personal or commercial properties sustained direct damage due to adverse weather conditions. It also covers affected persons in impacted governorates even if they are not residents of those areas.
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The central bank clarified that the deferment does not apply to loans already classified as non-performing or high-risk (Stage 3), in line with regulatory credit risk classifications.
No additional interest or profit will be charged during the deferment period, and banks will not impose any administrative or processing fees for submitting or implementing deferment requests.
The CBO also instructed banks and financial institutions to clearly disclose all terms, conditions and implications of the deferment to customers before approval, ensuring transparency and informed decision-making.
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