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Apr 11, 2021 06:10:05 AM  
    Cost of living  
  jamal   Posted on: Tue, 12 Apr, 2011 07:17:14 AM

QNB Keeps Low rates on Loans
DOHA: The banking industry has begun reducing interest burden on existing personal loans to 6.5 percent to comply with the latest QCB directive.

Reducing the interest on existing loans is seen by the people as the only silver lining in the latest central bankís diktat issued to the banks, which have largely irked the common man.

The Qatar National Bank, the country largest lender, yesterday issued a statement saying it had already begun implementing the QCB directive.

The bank said it was reducing interest on existing personal loans to 6.5 percent as directed by the QCB. Most banks have been charging interest in excess of 10 percent so people who are currently repaying the loans stand to benefit.



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