Loan payment deference to help citizens, SMEs

Manama: The banks’ response to defer loan payments until the end of the year is a continuation of the initiatives in the financial and economic stimulus announced under the directives of His Majesty King Hamad bin Isa Al Khalifa to unify national efforts to confront the impact of the coronavirus (COVID-19) pandemic, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa has said.

 

The response also supports the national efforts by the government headed by His Royal Highness Prince Khalifa bin Salman Al Khalifa, and the continuous follow-up by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, he added.

 

The minister stressed that the banks ’response to defer loan payments until the end of the year in a manner that does not affect the banks’ liquidity and financial solvency will contribute to enhancing and supporting liquidity for citizens and small and medium-sized entities.

 

It will also continue to support various economic sectors to deal with the repercussions of the pandemic in a way that contributes to strengthening economic stability and financial sustainability.

 

Shaikh Salman extended his thanks and appreciation to the Central Bank of Bahrain for its keenness to implement the initiative, to the parliament for the continuous and constructive cooperation, to the banks for their prompt response and to other relevant authorities.

 

He said that the responsibility is shared by everyone, each within their capacity, through their contributions and various roles to achieve the set goals in the best way possible and serve the development of the nation and its citizens.

 

 

Source: Bahrain News Agency