banking

Central Bank of Oman announces OMR7mn for Shaheen relief work

October 7, 2021

Muscat: The Central Bank of Oman (CBO) and the national banking sector have announced an allocation of OMR7 million towards the welfare of people affected by cyclone Shaheen.

“The amount shall be aggregated from the income received as fees by the Central Bank of Oman and the banking sector, from transactions and payments made over the next five months,” said the CBO in a statement.

The central bank 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, Oman’s top banking authority called upon all banks operating in the country to proactively contribute in mitigating the repercussions of Shaheen by directly donating to the accounts created for the purpose.

The financial assistance being extended by CBO and the banking sector is part of their corporate social responsibility, and their commitment as part of the national cause to do their bit towards the welfare of those affected by the direct impact of the cyclone.

Other companies have also put forth funds to help those in distress because of the cyclone. Among them is Oman LNG, which has decided to contribute OMR6 million.

These will be used “to support the relief efforts in areas affected by cyclone Shaheen,” said the company in a statement.

“This translates our robust commitment towards touching lives, and standing with the community at all times. We would like to thank Oman LNG board of directors, and shareholders for their unrelenting support towards touching lives in Oman,” it added.

“The company values all initiatives by individuals and organisations according to their capabilities and capacity,” added Oman LNG.

The organisation has also reached out in thanks to the emergency service personnel, repair and maintenance crews, and clean up teams involved in restoring normalcy in areas affected by the cyclone.

timesofoman

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