No admin fees, interest for loans deferment, says CBB
Manama, Sept. 22 -- The Central Bank of Bahrain (CBB) on Tuesday in a statement said there should be no administrative fees for loan installment postponement for three months till the year end.
This came in line with the Cabinet decision to defer the loan installments for the locals as part of providing a relief due to the COVID-19 pandemic which has hit the businesses hard.
The CBB has directed the banks to apply the previous six months loans deferment terms and conditions till the year end.
The CBB referring to the circular directed to all banks, finance companies and microfinance institutions, explaining that they will not impose administrative fees on the request to postpone the loan installment until the year end.
The CBB directe...
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