Muscat: Reflecting its ongoing commitment to the people and community it serves, Sohar International allocated RO5,000,000 to support its customers and build back the societies in severely affected areas by Cyclone Shaheen.

The Bank has pledged the amount which will be effectively utilised through interest-free financing, as well as deferring personal and housing loans for a period of three months for the Cyclone-impacted customers in the Wilayats of Saham, Khabourah, Suwaiq, and Al Musanah.

The initiative comes as part of the bank’s social responsibility program, reinforcing its commitment towards the nation.

Commenting on the initiative, Mr. Ahmed Al Musalami, Chief Executive Office of Sohar International, said: “We appreciate the government’s and individuals’ efforts to mitigate the effects of cyclone Shaheen that the Sultanate has witnessed.

“As a responsible corporate citizen, it is our national duty to always support the community, and stand by its people especially in such times of need. This initiative comes in line with the bank’s Purpose to Help People Win, and hence lending them support during exceptional times, to reduce the financial burden on those who have been severely impacted. The cyclone caused great damages to a number of the governorates of the Sultanate. We would like to commend the tireless efforts made by the government and various institutions in the public and private sectors to rebuild the affected areas. It’s our privilege and duty to support these national efforts made by government, citizens, residents and institutions.”

Sohar International is offering an interest-free personal loan of up to RO2500 for a period of 10 years, to customers who are residents of the same locations. This can be availed till December 31, as per terms and conditions cited by the bank.

In addition, the 3-month (October-December 2021) installment waivers for Personal Loan and Housing Loans are applicable for the bank’s Omani customers, who are residents of Saham, Khabourah, Suwaiq and Al Musanah.

They can simply avail waiver by providing a letter at their nearest branch before October 15, 2021, with a mandatory proof of residence location, such as electricity or water bill. The customer will be liable to pay the insurance premium for the extended tenure of the loan.

Being always at the forefront of lending support in such crises that the Sultanate has witnessed in the past years, Sohar International recognizes the importance of being socially responsible towards the community it serves, reflecting the human aspect of the bank’s brand personality.

Recently, the bank has also committed up to RO1.5mn towards combating the impact of COVID-19 and support its affected customers and the community at large. The bank continues to provide support to the community by adopting meaningful initiatives that contribute to building a sustainable society, thus contributing to the socio-economic development of the country.