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
 Nov 28 2014 - India says still searching for 39 workers seized in IraqArab News
(MENAFN - Arab News) NEW DELHI: India said Friday it was still searching for 39 construction workers abducted in Iraq in June denying a report claiming they had been executed by the Islamic State ...

 Nov 28 2014 - Gulf Asia approve steps to protect foreign workersArab News
(MENAFN - Arab News) KUWAIT CITY: Gulf and Asian labor ministers agreed Thursday on a series of initiatives aimed at boosting protection and improving conditions of employment for millions of foreign ...

 Nov 28 2014 - UAE hints at body to monitor forex pegThe Peninsula
(MENAFN - The Peninsula)   An advisory body to the UAE government has suggested that the central bank review the country's currency peg to the US dollar, but local bankers said any change to the peg ...

 Nov 28 2014 - Qatar bourse index down by 3.72pc last weekThe Peninsula
(MENAFN - The Peninsula)  Qatari bourse fell on heavy selloff on latest Opec pessimism on output cut. The benchmark index plunged by 1.39 percent to finish at 13,330 yesterday.The entire sector ...

 Nov 28 2014 - Qatar calls for creating Common Islamic MarketThe Peninsula
(MENAFN - The Peninsula)  Speaking on behalf of all Arab countries, Qatar's Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani, yesterday at the Ministerial Session of ...

 Nov 28 2014 - Saudis block Opec output cutThe Peninsula
(MENAFN - The Peninsula)  Saudi Arabia blocked calls yesterday from poorer members of the Opec oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude ...

 Nov 28 2014 - Don't bypass oil firm, Libya rival govt warnsThe Peninsula
(MENAFN - The Peninsula)  Libya's parallel government controlling the capital will take legal action against buyers of oil bypassing the Tripoli-based state oil firm National Oil Corporation (NOC), ...

 Nov 28 2014 - Qatar Airways partners with Coca Cola IPTLThe Peninsula
(MENAFN - The Peninsula)  Qatar Airways (QA) has teamed up with Coca-Cola International Premier Tennis League (IPTL) as the presenting sponsor for the inaugural edition of the event.The IPTL is the ...

 Nov 28 2014 - Aljazeera to hold global hackathonThe Peninsula
(MENAFN - The Peninsula)   Aljazeera is organising its first hackathon where some of the most innovative minds in media and technology from around the globe will work together and collaborate on the ...

 Nov 28 2014 - GCC 'Summit key to boosting unity'The Peninsula
(MENAFN - The Peninsula)  H M King Hamad bin Isa Al Khalifa of Bahrain yesterday met GCC Secretary-General Dr Abdullatif bin Rashid Al Zayani, who is on a GCC tour.King Hamad stressed the importance ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

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

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

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