Jordan’s commercial banks agreed Monday to reduce their prime lending rate to 9 percent as of April 1, reported the Jordan Times newspaper.
Chairman of the Association of Banks in Jordan Zuhair Khouri took the decision following a meeting of the executives of the Kingdom's commercial banks.
Khouri told the paper that the lowering of the lending rate was a reaction to “market factors and the official inclination to reduce interests rates.”
He added that the commercial banks are ready to play a major role in financing “the big projects that are expected to be launched in the Aqaba Special Economic Zone.” – Albawaba.com
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