Muscat: The Central Bank of Oman (CBO) has declared an extension of the deferral period for monthly loan payments for Omani citizens who have experienced job loss. This initiative is designed to offer financial assistance and aid individuals in managing their financial responsibilities while unemployed.
As per the CBO's announcement, the deferral period will now extend until December 2025 or until the individuals affected find new employment, whichever occurs first. This provides a substantial period of support for those in search of new job opportunities.
Importantly, during this deferral period, no interest or profit will accrue on the remaining loan balance. This action further alleviates the financial strain on those who have lost their jobs and are encountering economic difficulties. The CBO's decision highlights its dedication to assisting citizens during tough economic circumstances.
