National Bank of Oman (NBO) and Muzn Islamic Window are offering options for deferments on financing facilities as part of their efforts to help customers who are impacted by the spread of Covid-19 pandemic.
The bank is providing customers who are navigating the current circumstances, whether they have been directly or indirectly affected by the pandemic with a financial aid package covering all retail loans / Islamic Housing finance that includes a 3-month deferment or a 3-month waiver.
The bank also gave those who opted for the Eid deferment an early deferral in order to ease the added financial pressure in April. In addition, starting from next week, customers can apply for loan/finance deferments through NBO and Muzn mobile app making access to financial relief just a few clicks away.
The Covid-19 deferment and waiver are for a period of three months, from May to July 2020, with applicable terms and conditions, and includes a 3-month deferment with no interest/profit for Omanis with reduced salaries working in the private sector. Applicants must fit specified criteria, which include delayed salary, increase in expenses, other income having stopped, or forced leave without pay.
Earlier this year, the bank and its Islamic Banking Window Muzn also started to offer 12-month waivers with no interest/profit and no fees for Omanis who have experienced job loss.
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