Banks will not transfer rate hikes to existing personal loans
The Jordanian Banks Association announced that local banks will not increase current individual loan interest rates following the decision of the Central Bank of Jordan to raise interest rates by 25 basis points. This is to ensure that monthly installments remain unchanged and to avoid additional financial burdens on borrowers. This comes despite the increased cost of funds for banks, including higher interest rates on deposits, especially in foreign currencies, following the U.S. Federal Reserve's decision to raise interest rates by 25 basis points. This approach reflects the Jordanian banking sector's commitment to protecting the interests of customers and maintaining the stability and sustainability of the banking sector.
Notice: This Is an AI-Generated Summary
Comments (0)