Acceptance of deferred payment of loans for six months

Muscat: The Central Bank of Oman (CBO) has taken strict measures during the period notifying banks to accept requests for deferment of loan instalments for the coming six months.

The CBO issued a statement on Tuesday, March 18, referring to the banks and financing leasing companies (FLCs) to accept request for deferment of loan as well as installments and profit for affected borrowers, particularly SMEs with immediate effect.

This has been instructed to be implemented for the coming six months without adversely impacting the risk classification of such loans.