Khaberni - The director of the Banks Association, Maher Al-Mahrouq, commented on the impact of the ongoing war in the region on interest rates, stating that the Central Bank has decided to maintain the interest rate at its current levels.
Al-Mahrouq explained, during radio statements, that the global market expectations for inflation next month are still unclear.
He added that there is hope for a solution in the near horizon before reaching higher inflation levels, pointing to signs of price increases due to the current crisis.
He clarified that the decision to raise interest rates primarily depends on the policies of the US Federal Bank, especially after the change in its leadership last June.
He mentioned that the US President Donald Trump has called for a reduction in interest rates amidst the current war.
Regarding the possibility of postponing loan installments, Al-Mahrouq confirmed that the option of collective postponement has become a thing of the past in banking policy.
He explained that the experience of postponing installments in past periods showed that some borrowers incurred negative effects due to the additional costs involved.
He emphasized that the door is still open for borrowers to individually review their banks and submit applications to postpone their loan installments based on each case.
Concerning the financial situation in Jordan, Al-Mahrouq affirmed that the financial indicators are "very excellent," noting that the banking sector has proven its resilience during past crises.
He noted that the foreign currency reserves in Jordan have reached unprecedented levels, asserting that the general indicators are reassuring and positive.
