Oman sultan to ratify emergency interest-free loan scheme

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Oman sultan to ratify emergency interest-free loan scheme
Oman sultan to ratify emergency interest-free loan scheme :File Photo

Oman’s Sultan has issued royal orders to rolls out an emergency interest-free loan for the categories most affected by the coronavirus pandemic.

The decision has been taken in accordance with rules and regulations set by the Supreme Committee.

The categories included are both male and female entrepreneurs, especially holders of the Riyada card, SMEs, and those who work for their own business as well as beneficiaries of the Oman Development Bank loans and Al Raffd Fund.

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A statement issued online by the Government Communication Center (GC) said, “In the context of the supreme interest in the repercussions of the COVID-19 pandemic on the economic situation in the Sultanate, Sultan Haitham bin Tarik has issued supreme orders to adopt an emergency loan program without interest to help some of the groups most affected of male and female entrepreneurs, especially those holding an entrepreneurial card, small and medium enterprises, and self-employed as well as the beneficiaries of the loans of the Oman Development Bank and the Al Raffd Fund in accordance with the controls and procedures specified by the Supreme Committee.”