Muscat – Central Bank of Oman (CBO) has officially introduced a comprehensive suite of financial facilities designed to support individuals and small-to-medium enterprises adversely affected by recent tropical weather conditions. This initiative specifically targets those who have suffered direct damage to their personal or commercial properties within the impacted governorates, extending eligibility even to those who do not maintain permanent residency in those specific areas.

Eligible applicants may seek the deferral of various loan types, including personal, residential, and business installments. Under the established guidelines, the postponement typically covers a base period of two installments, though this may be extended to a maximum of three installments in specific circumstances, such as holiday exemptions. A primary feature of this relief package is the complete absence of additional financial burdens; no interest or profit will be accrued during the deferment period, and no administrative fees will be charged for the processing or implementation of the request.

Prospective beneficiaries must adhere to a strict application timeline, as the window for utilizing these services remains open only until June 30. While the programme is broad in scope, certain exclusions apply, specifically regarding defaulted loans or those classified as high-risk within the third stage of assessment. To ensure transparency, commercial banks are mandated to provide a thorough explanation of all deferral details and their long-term implications to the client before final approval is granted.