Oman central bank to offer $20bn extra liquidity

The Defence Secretary, Shri Shashikant Sharma meeting the Minister Responsible for Defence Affairs of Oman, Mr. Sayyid Badr bin Saud bin Harib Al-Busaidi, in Muscat on January 07, 2013.

DUBAI (Rahnuma): Oman’s central bank is preparing to provide some 8 billion Omani rial ($20.8 billion) in extra liquidity to banks as one of several measures aimed at supporting the economy, state TV reported, as coronavirus fears escalate in the Gulf region.

The central bank has asked banks to cut banking fees, adjust their capital and credit ratios, and allow repayment postponements for up to six months, particularly for small and medium enterprises, the state news agency said separately.

It asked to facilitate lending in sectors affected by the coronavirus, including health care, travel and tourism. ($1 = 0.3849 Omani rials)

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