CBO issues directives to banks in Oman
February 20, 2020 | 6:42 PM
by Times News Service
File Photo

Muscat: The Central Bank of Oman has issued directives to all banking and financial institutions regarding measures that need to be taken with those citizens whose work contracts were terminated in some private sector companies recently.

In a statement issued by the Government Communication (GC) on Thursday said the CBO has asked the financial institutions to give 12 months of grace period to repay the loan from the date of termination and reschedule their facilities when they get another job.

This decision comes following complaints on social media platforms by citizens whose work contract was terminated by private sector companies.

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