The Association of Banks in Jordan announced that banks operating in the Kingdom will not reflect the increase resulting from the Central Bank of Jordan's decision to raise monetary policy interest rates by 25 basis points on the interest rates of existing loans granted to individuals, so that their monthly installments remain without an increase resulting from this hike, thereby sparing borrowers additional financial burdens and supporting their ability to meet their obligations.
The Association explained that this step comes despite the rise in the cost of funds for banks, including the rise in interest rates on deposits, particularly in foreign currencies, following the US Federal Reserve's decision to raise interest rates by 25 basis points.
