During the fifth press conference for the Supreme Committee for Crisis Management held last March 24, it was clarified that personal granted with a salary guarantee is not included in the Qatar Central Bank circular issued regarding postponing outstanding loan installments and the interests or returns resulting therefrom.
According to H.E. Lolwah Al Khater, Official Spokesperson for the Supreme Committee for Crisis Management, the loan postponement is part of the directives of H.H. the Amir, which was announced during the first press conference. This applies to any of those from the affected sectors that were included in the decisions of the Supreme Committee for Crisis Management, for a period of six months, as of 16 March 2020.
H.H. the Amir directed the following financial and economic packages during the press conference held on March 15.
In line with H.H. the Amir's directives, banks have announced their support through their official social media accounts.
Commercial Bank has announced through their Twitter that they are postponing SME loan installments and documentary credit dues for 6 months at no extra fees.
Qatar Development Bank
According to the directives of His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the country, and in light of the current conditions the country is witnessing in the face of coronavirus, Qatar Development Bank will postpone the loans of small and medium companies for a period of 6 months, as part of the private sector support package amounting to 75 billion riyals
In support of Qatari entrepreneurs and owners of small and medium-sized companies, Qatar Development Bank announces the exemption of all tenants in the Al-Furjan Markets, Jahiz 1, Jahiz 2, and Qatar Business Incubation Center for a period of 6 months, starting from March 17, 2020.
H.E. Lolwah Al Khater also mentioned that the circular stipulated the allocation of a repurchase window (repo), with a zero percent rate, to be used by banks to postpone loan installments or grant new loans, as well as to cancel fees on points of sale (POS) and withdrawal fees via ATMs.
Source: Government Communications Office
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