Friday 19 / April / 2024
Muscat: A return of 6 per cent has been set for obtaining a commercial loan or debt, according to the ministerial decision issued by the Ministry of Commerce, Industry and Investment Promotion.
The first article of the decision stipulates that the return for obtaining a commercial loan or debt is set at 6 per cent , unless a lesser amount is agreed upon. The Minister of Commerce, Industry and Investment Promotion may, in each individual case, agree with the Oman Chamber of Commerce and Industry to exceed this percentage in the event that the loan term is long, its purpose is related to projects that contribute to achieving economic development, or the degree of risk is high.
The second article said that the provision of the first article of this decision does not apply to loans provided by banks and finance companies, and the leasing of assets licensed by the Central Bank of Oman.
Article three stipulates that this decision shall be published in the Official Gazette and shall be in effect for one year from the date of its publication.
