Oman Housing Bank Provides Subsidized Loans to 28,815 Citizens

Strategic Insights -

The Oman Housing Bank has been playing a crucial role in providing affordable housing to low-income individuals and citizens who do not meet the requirements for subsidized loans. In 2008, the bank provided 1,186 loans worth RO. 29.6 million (US$76.9 million) to low-income individuals, with the number of subsidized loans granted to them amounting to 25,230 worth RO. 399,013,529, accounting for about 87.6 per cent of the total loans availed by the Bank.

Key Takeaways:

  • The Oman Housing Bank has provided 28,815 loans worth RO. 487,275,687 since its inception, with 25,230 loans worth RO. 399,013,529 being subsidized for low-income individuals, accounting for about 87.6 per cent of the total loans availed by the Bank.
  • In 2008, the bank provided 1,186 loans worth RO. 29.6 million (US$76.9 million) to low-income individuals, with the number of subsidized loans amounting to 607 loans worth RO. 14 million.
  • The bank has also contributed to providing housing loans for citizens who do not meet the requirements for subsidized loans, providing 579 loans worth RO. 15,633,100 in 2008.
  • Since the introduction of the subsidized loan system for low-income individuals in January 1993, the bank has provided 25,230 loans worth RO. 399,013,529 as of the end of 2008.
  • The bank's services are available to citizens who earn between RO. 601 to RO. 800, with a total of 3397 loans worth RO. 90,978,735 being provided to this group since January 1993.

Statistics:

  • Total number of loans provided by the Oman Housing Bank: 28,815
  • Total value of loans provided by the Oman Housing Bank: RO. 487,275,687
  • Number of subsidized loans granted to low-income individuals: 25,230
  • Total value of subsidized loans granted to low-income individuals: RO. 399,013,529
  • Percentage of total loans availed by the Bank that are subsidized for low-income individuals: about 87.6 per cent
  • Value of loans provided to low-income individuals in 2008: RO. 29.6 million (US$76.9 million)
  • Number of loans provided by the bank to low-income individuals in 2008: 607
  • Value of loans provided to low-income individuals by the bank in 2008: RO. 14 million
  • Number of loans provided by the bank to citizens who do not meet the requirements for subsidized loans in 2008: 579
  • Value of loans provided by the bank to citizens who do not meet the requirements for subsidized loans in 2008: RO. 15,633,100
  • Total number of loans provided to citizens who earn between RO. 601 to RO. 800 since January 1993: 3397
  • Total value of loans provided to citizens who earn between RO. 601 to RO. 800 since January 1993: RO. 90,978,735

Sources:

  • (ONA) 16-04 1430
  • Asia Pulse - MUSCAT, April 16