Oman Observer, 29 September 2024: The Ministry of Commerce, Industry and Investment Promotion has issued a Ministerial Decision setting the return due for obtaining a commercial loan or debt at 6% unless a lower percentage is agreed upon.

The decision was made based on the Commercial Law and a letter from the Oman Chamber of Commerce and Industry, in response to public interest requirements.

The decision states that this percentage may be exceeded in exceptional cases, such as long-term loans, loans directed to projects contributing to economic development, or loans associated with a high degree of risk, in coordination with the Oman Chamber of Commerce and Industry.

However, this return does not apply to loans provided by banks, finance companies, and asset leasing companies licensed by Oman’s Central Bank.

The decision will be published in the Official Gazette and will be effective for one year from the date of its publication.

It comes within the framework of the government’s efforts to ensure the flexibility of finance for businesses while enhancing governance principles and regulating the investment environment in Oman.

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