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Omani lenders told to boost SME lending
- Oman: Sunday, May 12 - 2013 at 07:24
Oman's central bank has said commercial banks' loans to small and medium-sized firms must account for at least 5% of their total loans, Reuters has reported. "The lending of a licensed bank to SMEs shall not at any time fall below 5% of its total credit portfolio," the central bank said in a circular. "Banks shall achieve this target before the end of December 2014, planning for systematic progress. Banks, which have more than the stipulated share, shall not slip back and shall increase their credit further," it said. Banks in the sultanate will be required to report SME lending on a monthly basis, beginning from June 2013.
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