Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

ODB provides RO5.4mn finance to Al Rafd Fund  Join our daily free Newsletter

MENAFN - Muscat Daily - 04/06/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Muscat Daily) Oman Development Bank announced that the total money provided to the Al Rafd Fund to disburse loans amounted to RO5.4mn for the January to May 2014 period.

This accounted for 73 per cent of the total value of applications, of RO7.4mn, received by the fund, ODB said at a press conference on Tuesday. Muscat governorate accounted for 48 per cent of the total value of loan applications that were submitted to the fund and financed by ODB.

Batinah North accounted for 12 per cent, Dakhliyah and Al Dhahirah nine per cent each, Dhofar seven per cent, Sharqiyah South six per cent, Batinah South and Sharqiyah North four per cent each, and Buraimi one per cent.

According to Hamed Salim al Harthy, acting general manager of ODB, the finance provided to the Al Rafd Fund to disburse against loans requested was distributed as follows: RO112,839 in January (90 per cent of the total value of loan applications submitted to the fund), RO545,702 in February (73.4 per cent), RO1.3mn in March (72.4 per cent), RO2mn in April (84.5 per cent), and RO1.3mn in May (57.6 per cent).

Speaking to Muscat Daily, Harthy added, ''The maximum loan amount disbursement for small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) is RO100,000, while the maximum rate of interest charged is two per cent.''


Muscat Daily

  MENA News Headlines
 Oct 10 2015 - Al Masah plans USD299m healthcare expansion across GulfMENAFN
(MENAFN) Al Masah Capital Limited has revealed plans to invest around USD299 million to support the growth and regional expansion of its newly-rebranded healthcare private equity initiative.The ...

 Oct 10 2015 - UAE Eagle Hills starts work on USD3b Belgrade Waterfront projectMENAFN
(MENAFN) Eagle Hills, a UAE-based private investment and real estate development company has announced the start of construction of its flagship development in Belgrade.Belgrade Waterfront, the ...

 Oct 10 2015 - Dubai's hotel revenues down 10.1 percent in AugustMENAFN
(MENAFN) Four- and five-star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1 percent to USD147.45.Figures from hospitality ...

 Oct 10 2015 - UAE-All Blacks look to perfect their edgeKhaleej Times
(MENAFN - Khaleej Times) Even without a limping Richie McCaw the All Blacks go into their final group game against Tonga insisting they are ready for the World Cup ...

 Oct 10 2015 - UAE-Work place etiquette to abide byKhaleej Times
(MENAFN - Khaleej Times) Last week I was invited to facilitate an Emotional Intelligence training programme for 22 participants at an interior decorating firm. Their ...

 Oct 10 2015 - Asiri hails UAE s role in Arab coalition says no safe havens to rebellious militiasEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th October 2015 (WAM) - Spokesman of the Saudi-led Arab coalition forces Ahmed Asiri has praised the played by the UAE in the coalition and the ...

 Oct 10 2015 - Hamdan bin Mohammed Launches 'Taqdeer Award' to Recognize Excellence in Labour Welfare PracticesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) - Crown Prince of Dubai: "The Award reflects the importance that Dubai places on ensuring progressive labour practices in line with global standards" - ...

 Oct 10 2015 - Saudi-Celebrity clockmaker thanks KSA on arrivalArab News
(MENAFN - Arab News)JEDDAH: Talented American student of Sudanese origin Ahmed Mohammed Al-Hassan arrived in Jeddah on Friday morning to perform Umrah and visit his relatives. The Kingdom last week ...

 Oct 10 2015 - Israelis worried but defiant amid wave of stabbingsGulf Times
(MENAFN - Gulf Times) Israelis are deeply unnerved in the midst of a spate of stabbings that have brought back memories of previous Palestinian uprisings, but say they are ready to "confront" any ...

 Oct 10 2015 - Kingdom job seekers' paradiseArab News
(MENAFN - Arab News)JEDDAH: The Eastern Province Riyadh and Jeddah are among the most sought after locations for job seekers in the Middle East North Africa (MENA) region a new study has found. The ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help