CBO extends loan deferral for unemployed citizens

Muscat: The Central Bank of Oman (CBO) has announced an extension of the deferral period for monthly loan installments for Omani citizens who have lost their jobs. This extension aims to provide financial relief and help individuals manage financial obligations during unemployment.

According to the CBO's statement, the deferral period will now last until December 2025 or until the affected individuals secure new employment, whichever comes first. This provides a significant window of support for those seeking re-employment.

Crucially, during this deferral period, no interest or profit will be charged on the outstanding loan balance. This measure further eases the financial burden on those who have lost their jobs and are facing financial hardship. The CBO's decision underscores its commitment to supporting citizens during challenging economic times.