SGBL Delays Monthly Payments of Personal, Business Loans

Lebanon’s SGBL bank on Wednesday announced that it will postpone collecting the monthly payments for personal and business loans for the months of March, April and May 2020.

No penalties will be imposed and the delayed payments will entail a 0% interest rate, the bank said in a statement.

It noted that the move comes “as part of its initiatives related to preserving the safety of its clients, amid the current social and economic situation, and in line with the central bank memo (#547) issued on March 23, 2020.”

“The dear clients concerned with the aforementioned loans will be contacted as soon as possible to be informed of the implementation mechanism of these facilitations and the payment means following the end of the postponement period,” SGBL added.

It also noted that its call center will be ready to answer any inquiry related to this issue through the hotline 1247 as of Monday, April 6.

“The safety of clients and employees is a priority and social responsibility is everyone’s duty. Let us all stay safe,” SGBL concluded.