Muscat – Development Bank has said it is preparing to offer financial facilities, including possible loan repayment deferrals, for projects affected by the current geopolitical situation in the region, in a move aimed at supporting business continuity and mitigating economic disruption.

Mahmoud bin Abdullah Al Owaini, Chairman of the Board of Directors of the Development Bank, said the bank is committed to implementing the Royal Directives of His Majesty Sultan Haitham bin Tarik during this phase.

In a statement to Oman News Agency, he confirmed that the bank has begun studying the sectors and projects affected by current developments, with a view to assessing the possibility of postponing loan repayments for a period, depending on individual cases.

Al Owaini said the initiative aims to ensure the continuity of financed projects, reduce adverse impacts, and help businesses position themselves to benefit from any emerging opportunities in certain sectors.

He added that the Development Bank is also exploring additional financial facilitation measures to help affected enterprises manage ongoing challenges arising from the situation.

Al Owaini further said the bank will launch an electronic platform to receive requests for repayment deferrals, allowing beneficiaries to submit applications easily and efficiently. These requests will be reviewed by specialists at the bank in line with the needs of small and medium-sized enterprises (SMEs) and in implementation of Royal Directives.

Al Owaini expressed appreciation for the Royal patronage extended by His Majesty Sultan Haitham bin Tarik towards the private sector and SMEs, and for his continued emphasis on integrating government efforts to support business owners, citizens, and residents in the Sultanate of Oman.