Personal loans not covered by QCB circular
March 24 2020 10:53 PM
Qatar Central Bank

Personal loans are not covered by a circular issued by Qatar Central Bank (QCB) to banks and money exchanges operating in the country regarding the postponement of outstanding loan installments and interest for the affected sectors, for a period of six months from March 16, 2020.
This was clarified by HE the Spokesperson of the Supreme Committee for Crisis Management Lolwah bint Rashid bin Mohamed al-Khater Tuesday at a press conference.
The QCB circular was based on the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, announced in the first set of decisions.
The circular also stipulated that a repurchase window (Repo) be allocated, with a zero rate, used by banks to postpone loan installments, or grant new loans, as well as the fees imposed on points of sale (POS) and ATM withdrawal fees.
HE al-Khater also pointed out that QCB also issued a circular to banks and money exchanges operating in the country regarding the facilitation of electronic money transfers procedures abroad and the provision of electronic services to the workers category, and the announcement of all available electronic services by various means.



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