Credit report, Mala'a, not required for emergency loan application in Oman

Muscat: Credit report, Mala'a is no longer a prerequisite for submitting an emergency loan application, said the Small and Medium Enterprises Development Authority.

The authority said in a statement: “We have followed with great interest the interaction between the owners of small and medium enterprises. With the announcement of the emergency financing program and to facilitate the beneficiaries, especially with regard to the requirement to attach a recent copy of the credit report, Mala'a, to the required documents, the authority would like to clarify that Mala'a is no longer a prerequisite for submitting the emergency loan application."

"The applicant for emergency loan can attach Mala'a if it is available and it may be requested later from the beneficiary according to the requirements and mechanisms of evaluation."

The statement added, "This procedure comes in the interest of the authority to facilitate procedures for owners of SMEs holding an Entrepreneurial Card to apply for an emergency loan, as of May 31, 2021.”