Central Bank of Oman Issues Second Stimulus Package to Support Economic Revival

The Central Bank of Oman (CBO) has announced several new policy measures to bolster the capacity of banks and financial institutions to support affected borrowers following the COVID-19 crisis. This is the second stimulus package for economic revival to be announced by Oman since March 2020, according to local media reports, and will come into force with immediate effect.

The stimulus measures, announced in a recent circular issued by Executive President of CBO, Tahir bin Salim al Amri, grant a further extension on the Loan Deferment Scheme up until the 31st of March 2021. In addition, the upper limit of CBO’s Forex Swap facility has been increased to 100% of the bank's net worth, up from a joint limit of 25% on th...