Central Bank of Bahrain governor Rashid Mohammed Al-Maraj said: “All retails banks, finance and micro-finance firms have to grant citizens a six-month waiver without fees, interest-on-interest (compound interest) or increase in the profit or interest rate.”
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…952 | the publication reaches you by | Bahrain News
Customers looking to take advantage of the waiver, are asked to inform their respective lending institution.
Earlier this month, the government of Bahrain announced an $11.38 billion economic stimulus package to support its citizens and the private sector amid the ongoing coronavirus crisis.
The stimulus package is equivalent to 29.6 percent of Bahrain’s annual GDP.
There are currently 310 confirmed cases of coronavirus in Bahrain, which recorded the GCC’s first Covid-19-related death last week.
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