There is no move to increase interest rate ceiling on personal loan of commercial banks in Oman, despite a general increase in interest rate in the financial system, the country’s central bank chief said. The maximum interest rate a commercial bank can charge from a customer for personal loan is fixed at 6% by the Central Bank of Oman. In fact, majority of Omani banks are offering personal loans at the ceiling rate, or at less than 6%. Al Zadjali also noted that there is no need to restrict the growth as the banks are cautious and the aggregate personal loans are below the limit fixed by the Central Bank of Oman. (Times of Oman)