Cabinet welcomes move to defer loan instalments

THE Cabinet welcomed the financial sector’s swift response to postpone loan instalments owed by individuals and companies for six months, following a recent circular published by the Central Bank of Bahrain, which will further support the economy during these unprecedented times.

This came as Deputy Prime Minister Shaikh Mohammed bin Mubarak Al Khalifa chaired the weekly Cabinet meeting, held remotely, yesterday.

The Cabinet commended His Majesty King Hamad’s confidence in Team Bahrain’s efforts aimed at combating Covid-19, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince Prime Minister.

The Cabinet emphasised the importance of continuing to implement initiatives to support national efforts to check the spread of Covid-19 to protect public health, as well as to enhance stability across various sectors to achieve the kingdom’s economic goals.

The Cabinet welcomed Bahrain’s re-election to the Executive Council of the UN World Tourism Organisation, stressing that this achievement strengthens the kingdom’s contributions to further developing the tourism sector.

On the occasion of World Environment Day, the Cabinet re-affirmed the kingdom’s commitment to adopt initiatives that promote environmental protection and a culture of preservation and sustainability.

The cabinet discussed several memorandums during the meeting.

It approved a memorandum between the Ministerial Committee for Legal and Legislative Affairs and the Youth and Sports Affairs Minister to legalise the use of government lands by private bodies working in the field of youth and sports.

It also approved a memorandum by the Cabinet Affairs Minister on co-operation programmes between the Supreme Council for the Environment in Bahrain and the Saudi Organisation for Standardisation, Metrology and Quality.

The Cabinet also approved a memorandum by the Health Minister to postpone periodic medical examination of workers in industrial and commercial establishments.

A memorandum on co-operation between the Industry, Commerce and Tourism Ministry and the Saudi Authority for Intellectual Property was also approved.

The Cabinet reviewed a memorandum by the Ministerial Committee for Legal and Legislative Affairs on the law regulating the collection of money for public purposes.

Source: https://www.gdnonline.com/Details/946498/Cabinet-welcomes-move-to-defer-loan-instalments