OCCI Urges Private Sector, Banks To Go Soft On Rents, Loans
Category: General

Oman Chamber of Commerce and Industry  (OCCI) has directed the owners of commercial centers and real estate to take into account the current conditions of rented tenants and affected stores by Covid-19 precautionary measures.

It urged them to include measures such as exempting the tenants from reducing or postponing rents during the current stage.

OCCI has called on private sector institutions to reduce the number of employees at workplaces and instead encourage work through virtual channels, in line with the decisions of the Supreme Committee.

It urged private sector institutions to comply with hygiene and other Covid-19 prevention requirements.

OCCI has called on the Central Bank of Oman (CBO) to urge the various financing institutions, banks and financing companies to take in to account the current conditions of private sector institutions by postponing the installments to companies and employees working in the private sector for a period of six months without accumulating interest.

It also said that there is a need to make the process of receiving deferral requests more smooth and flexible, grant companies emergency loans equivalent to at least three months of fixed monthly expenses without interest or symbolic interest and without additional guarantees until they exceed the liquidity crisis and are able to pay their obligations, especially the salaries of workers.



14 Apr, 2020 0 859
Posted Comments