Statement on State’s General Budget for Fiscal Year 2020
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Muscat: The Ministry of Finance (MOF), in coordination with the Supreme Council for Planning (SCP) on Wednesday issued the statement on the State’s General Budget for the fiscal year 2020. This statement presents key financial and economic indicators for FY 2020, and the preliminary results of FY 2019. This is in order to ensure transparency and to inform the citizens, investors, domestic and international institutions of Oman’s fiscal policy for FY 2020.
The State’s General Budget is the main economic instrument, which reflects the Government’s policies and objectives. It can also be defined as a financial programme prepared for the upcoming financial year with the aim to achieve specific objectives within the framework of an approved development plan. The Budget sets out the estimated total revenue and spending on social and economic development.
Al Raffd Fund holds meeting in Khasab
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MUSCAT: Al Raffd Fund board of directors held its third meeting for 2017 in Khasab, Governorate of Musandam, to review activities of its branches in wilayats and identify entrepreneurs’ concerns and requirements.
The meeting was chaired by Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, Chairman of the Fund.
The board reviewed the approved loans for the beneficiaries in Musandam, and directed the executive management to encourage and increase the number of loans awarded to the people of Musandam. The executive management was directed to perform a comprehensive survey of the business opportunities, and promote it within Musandam, to increase the awareness of the importance of entrepreneurship, and to encourage the people of Musandam to benefit from the fund’s loans. The board also reviewed certain conditions and adopted a package of incentives to increase the number of entrepreneurs benef
ODP announces loan repayment relief Published: 1:16 PM, May 11, 2021 SHARE
Muscat: Oman Development Bank (ODB) has announced the extension of the repayment period for all beneficiaries of the emergency loan scheme packages.
It urged the beneficiaries to contact the specialized branches of their loans to complete the procedures.
Oman Chamber of Commerce and Industry (OCCI) appreciated the positive response to its Chamber and that of the private sector by the Oman Development Bank, with regards to extending the loan repayment period. All beneficiaries of the emergency loan program packages have been given an additional grace period until January 2022. No interest or fees will be charged.
By: Times News Service
Muscat: The Oman Chamber of Commerce and Industry (OCCI) has appreciated the decision of the Development Bank to extend the payment period for the beneficiaries of the emergency loan program packages to 2022 without calculating interest or fees.
OCCI said in a statement: Oman Chamber highly appreciates the positive response to the demands of the Chamber and the Omani private sector expressed to the Oman Development Bank, especially with regard to extending the repayment period and giving an additional grace period to all beneficiaries of the emergency loan program packages until January 2022 without calculating interest or fees.
Oman Development Bank extends repayment period of emergency loan packages
By: Times News Service
Muscat: The Oman Development Bank has issued a statement on extending the repayment period to the beneficiaries of the emergency loan program packages.
A statement issued online by the bank said: Oman Development Bank is pleased to inform you of extending the repayment period and giving an additional grace period to all beneficiaries of the emergency loan program packages, so that the repayment starts from January 2022 without calculating interest or fees for that. The beneficiaries of the program must contact the relevant branch to complete the procedures.