MUSCAT: Oman’s Minister of Commerce and Investment Promotion has issued a ministerial decision setting the return for obtaining a loan or commercial debt.
As per the decision issued by His Excellency Qais bin Muhammad Al-Yousef, the return for obtaining a loan or commercial debt has been set at six percent, unless it is agreed to be less than that.
The Minister of Commerce, Industry and Investment Promotion may in each case separately agree with the Oman Chamber of Commerce and Industry to exceed this percentage.
Read More
- His Majesty Sultan Haitham seeks closer ties with Namibia in letter to president
- Oman offers condolences to UAE after Fujairah crash kills at least 14
- Oman reviews response to oil tanker grounding off Qibliya Island
- India expands training opportunities for professionals in Oman through ITEC programme
- Oman approves over RO 100,000 to support 144 scientific research papers
In such events, the loan term is long, or its purpose is related to projects that contribute to achieving economic development, or the degree of risk is high.
