MPs have proposed a temporary freeze on personal loan repayments for citizens in the wake of the economic repercussions caused by recent regional tensions.
Five legislators submitted the urgent proposal calling for the postponement of personal loan instalments for three months without interest or additional charges.
The proposal will be debated during today’s parliamentary session. It was submitted by MPs led by Strategic Thinking Bloc spokesman Khalid Bu Onk and others representing a mix of parliamentary blocs and independent members.
The legislators say the proposal aims to support Bahraini families facing financial pressures following the economic impact of recent Iranian attacks and heightened regional tensions.
Mr Bu Onk explained that personal loan repayments represent one of the most significant monthly commitments for a large segment of citizens.
“Postponing these instalments for a limited period would provide families with breathing space and allow them to reorganise their financial commitments,” he said.
The government has also been urged to provide compensation for businesses struggling with accumulated electricity and water bills following the economic fallout from recent regional tensions.
The proposal has been spearheaded by Strategic Thinking Bloc president and chairman of Parliament’s financial and economic affairs committee Ahmed Al Salloom.
Mr Al Salloom noted that small businesses in particular could struggle to recover if mounting utility costs are left unaddressed.
“When commercial establishments face sudden disruptions, fixed operational costs such as electricity and water bills continue to accumulate,” Mr Al Salloom said.
“Providing targeted support during such periods can help ensure that businesses remain operational and are able to continue contributing to economic activity.”
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