Bahrain: CBB directs banks not to charge fees for loan deferral

Central Bank of Bahrain
- Advertisement -

The Central Bank of Bahrain (CBB) has issued a circular to all banks and finance companies, explaining that administrative fees will not be imposed on requests to postpone the loan instalment until the end of the current year.

The CBB directed all banks to apply the same terms and conditions based on loans in terms of interest rate or profits.

The CBB confirmed that the circular comes within the framework of the Cabinet directing in its session on September 14 to the CBB to urge banks to postpone loan payments until the end of 2020 to relieve citizens and enhance support for various economic sectors.

READ  Bahrain: Six Fraud Financial Companies Detected

Comments

- Advertisement -