Oman approved the implementation of an additional package of supportive measures for small and medium enterprises (SMEs), entrepreneurs, and insolvent individuals to mitigate the effects of the Covid-19 pandemic, including exempting borrowers from the emergency loan portfolio of the Oman Housing Bank.
In addition, exemptions for SMEs from fees and fines resulting from delaying the repayment of loans concluded with the lending portfolio (formerly Al Raffd Fund) until the end of this year were announced.
Exemptions from payment of overdue entrepreneurs and owners of SMEs who face prison charges, following persecutions on account of bad cheques (cheques drawn on insufficient funds).
The measures also include postponement of lawsuits against individuals/establishments not abiding by the provisions of loan agreements signed with the Lender Portfolio until the end of 2022.
Furthermore, all vehicles (private and commercial) have been exempted from paying renewal fees and fines for the years 2020 and 2021.
