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Bahrain Might Stop Increasing Interest Rates on Loans

  • Publish date: Thursday، 21 December 2023
Bahrain Might Stop Increasing Interest Rates on Loans

The Bahraini Parliament accepted a proposal that calls for banks to stop increasing personal and real estate loan interest rates in the Kingdom.

The Purpose of the Proposal?

The proposal was submitted to pressure the government to direct banks to stop increasing loan interest rates.

The proposal also aims to protect the public's financial interests, especially those individuals who entered loan agreements before the recent interest rate hikes. 

Who Supports the Proposal?

The following Members of Parliament support the proposal to stop increasing interest rates on loans:

  • Khalid Bu Anq
  • Jalela Al Sayed
  • Jalal Kadhem
  • Dr. Ali Nuaimi
  • Bader Al Tamimi

These MPs have emphasized the need to recognize the loan recipients' financial capacities and the negative impact the increasing interest rates will have on them.