The Central Bank of Jordan (CBJ) issued a circular calling on local banks to keep the interest rates on loans granted to individuals unchanged.
The CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals.
With this notification, the interest rates on various kinds of loans to individuals will remain the same.
The CBJ added that in case of any installment commissions due to the rising interest rates, local banks should find an appropriate mechanism to postpone them until the end of the loan or extend the period of time allocated for the payment of loans.
