Cyclone Shaheen: Central Bank of Oman announces recovery grants for those affected

Muscat: The Central Bank of Oman and the banking sector in Oman, has announced an allocation of OMR7 million for the welfare of the people affected by the tropical cyclone (Shaheen).

The amount shall be aggregated from the income the Central Bank of Oman and the banking sector receive, as fee from various payment systems transactions conducted over the next five months.

Central Bank of Oman will coordinate with the concerned government organisations to transfer the amounts to the bank accounts designated for disbursing aid and relief funds to the affected people.

In a statement issued earlier, the Central Bank of Oman called upon all banks operating in the Sultanate to proactively contribute in mitigating the repercussions of the tropical cyclone (Shaheen) by directly donating to the accounts designated for the purpose.

It may be noted that the financial assistance being extended by CBO and the banking sector is part of their corporate social responsibility endeavor, and their commitment for the national cause to contribute their bit in the welfare of those affected by the direct impact of the Cyclone (Shaheen).