In an effort to remain closer to customers and the wider community, the National Bank of Bahrain (NBB) has implemented a number of initiatives to provide relief measures to its individual customers in the wake of the COVID-19 pandemic.
The initiatives include: deferment on all monthly loans for Bahraini citizens for up to 6 months
with no additional charges of interest, and no interest on interest, which is also applicable to
The deferment on all monthly due payments for Bahraini credit cardholders for a period of 6 months without additional charges. Increased limit on ‘Tap&Go’ without a PIN from BD20 ($0.017) to BD50.
To further support its customers, NBB has also temporarily increased the daily transaction limit on its debit cards from BD1,000 to BD2,000 until further notice.
Commenting on the initiatives, Subah Al-Zayani, Chief Executive Retail Banking said:
“The National Bank of Bahrain prides itself on leading initiatives that lend a helping hand to its customers. In light of the current situation and the difficult circumstances faced by our retail customers who have loans with NBB, we will be deferring all loans, without any additional charges or interest. Monthly instalments on all deferred loans will also remain the same. The Bank will be deferring the instalments for up to 6 months, starting from March to August of this year.”
“The Bank will not claim interest on the deferred principal loan amount of the deferred 6 months instalments. This is in line with our commitment to support our customers, particularly Bahraini nationals, during these difficult times,” added Al-Zayani.
“Simply put, the monthly instalment amount will not change, and the repayment period will be extended to include an additional six months over the original repayment period,” he concluded.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).