The Governor of the Central Bank of Bahrain, Rashid Al Maraj, has confirmed that, following the bank’s directives issued on March 17, the six installments must be deferred by retail banks.
And microfinance and microfinance companies without postponement fees and without additional interest or profits and no increase in the price of profit or interest, but the customer must, as is done in the past, pay the insurance company fees (if any) in relation to extending the life insurance policy.
The guidance includes credit due to credit cards that have already been deducted from the credit card limit as of March 19, 2020.
This comes in accordance with the royal directives of His Majesty King Hamad bin Isa Al Khalifa, the country's monarch, to unify national efforts to confront the repercussions of the global spread of the Corona virus at the local level in order to preserve the health and safety of citizens.
The residents are in parallel with the continuation of the state’s programs and its work process to achieve sustainable development endeavors for the benefit of citizens, after which a financial and economic package of 4.3 billion dinars was announced.