Bahraini nationals can delay payment of loan installments by six months

Bahraini nationals can delay payment of loan installments by six months
Bahraini nationals can delay payment of loan installments by six months

We show you our most important and recent visitors news details Bahraini nationals can delay payment of loan installments by six months in the following article

Hind Al Soulia - Riyadh - Saudi Gazette report

MANAMA — Bahraini nationals, who have taken bank loans, can delay payment of installments by six months as the kingdom battles the coronovairus pandemic, Bahrain News Agency reported on Thursday quoting a statement from governor of the Central Bank of Bahrain.

“All retails banks, finance and micro-finance firms have to grant citizens a six-month waiver without fees, interest-on-interest (compound interest) or increase in the profit or interest rate”, said CBB Governor Rashid Mohammed Al-Maraj.

The central bank’s move follows $11.3bn ( BD4.3bn) economic stimulus package announced by the kingdom to offset the impact of the coronavirus.

The waiver, which is applicable from March, also covers credit cards but does not include inter-bank deposits or borrowings.

All customers who want to avail to the waiver and those who are inclined to make timely payment must inform their respective lending institution.


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