Central Bank of Oman highlights importance of restructuring bank loans

Muscat: Central Bank of Oman (CBO) has taken a series of precautionary measures for restructuring bank loans, said Ali bin Hamdan Al Raisi, executive vice president of the bank, at a banking workshop.
The two-day workshop titled ‘Restructuring bank loans’ was organised on Monday in collaboration with the Union of Arab Banks at City Seasons Hotel in Muscat.
In his keynote speech on the opening day of the event, the CBO executive vice president highlighted the importance of loan restructuring. He said that addressing this issue in accordance with the new approaches allows creditor banks to minimise their risks and build additional appropriations and reserves to cover existing debit accounts as well as provide protection to banks to face the worst possible scenarios which some borrowers face when opting for long-term restructuring operations. It also allows debtors to carry on with their activities, he added.
Speakers from the Central Bank of Oman, the Central Bank of Lebanon (Banque Du Liban) and the International Finance Corporation – member of the World Bank Group – will share experiences in restructuring bank loans.
Participants in the workshop include about 60 high- and middle-ranking employees from 16 local banks and finance companies and from Egypt.