Jordanian banks to hold rates on personal loans
The Director General of the Jordanian Banks Association announced that the banking sector has decided not to pass on the recent interest rate increase of 25 basis points on existing personal loans, in order to ease the burden of installments on borrowers. He clarified that this decision does not include fixed-interest loans, which are unaffected by interest rate changes, while the increases do impact variable-interest loans. The director attributed the rise in interest rates to the Jordanian dinar's linkage to the US dollar and the banking sector's response to the Federal Reserve's decisions, aiming to support currency stability and strengthen the economic situation.
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