Loans, health insurance to be extended for some in Oman

Muscat: Omanis above 60 years of age will have their loan repayment periods rescheduled to their benefit, while borrowers aged 70 and above will still be eligible for health insurance, because of the effects of the COVID-19 pandemic, the Capital Market Authority has announced.

This is in accordance with Diwani Circular No. 6/5/2020, which said that loans can be adjusted for people above 60, in line with their retirement pensions. The decision came after discussions between the Central Bank of Oman and CMA to help those Omanis who’d been asked to retire from government employment after having completed 30 years of service.

According to the circular, 70 percent of government employees were expected to retire after completion of 30 years of employment in the public sector.