Coronavirus: Oman banks to freeze personal loan repayments

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Coronavirus, covid-19, loan repayments, oman central bank

Dubai - Banks should restructure loans if needed.

By Reuters

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Published: Wed 22 Apr 2020, 3:01 PM

Last updated: Wed 22 Apr 2020, 5:07 PM

Oman's central bank has asked banks and financial institutions to freeze repayments of personal and housing loans for three months to help workers overcome the coronavirus crisis, state news agency ONA reported.

The decision will take effect in May and no additional commission fees will be required from customers, ONA said, adding that banks should restructure loans if needed.

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