6.71M checks circulated in 2023, amounting to JD40.99 billion

(File photo: Jordan News)
AMMAN — The number of checks in circulation during the past year amounted to 6.71 million, with a total value of JD40.99 billion, as reported by the Jordanian Payment and Settlement Systems Company (JoPACC), Al-Mamlaka TV reported.اضافة اعلان

According to statistics gathered by JoPACC, the number of bounced checks in Jordan increased by 19.1 percent in December 2023 compared to the previous month, reaching 21,800 checks to 18,300 in November 2023.

The value of bounced checks for December totaled JD164 million, compared to JD130 million in the same month of 2023, reflecting a notable increase of 26.2 percent.

Further analysis of the data reveals that in December, 15,286 bounced checks amounting to JD118.7 million were attributed to financial reasons. Additionally, over 6,500 checks totaling JD44.9 million were returned for technical reasons. Financially motivated bounced checks constituted 72.5 percent, while those for technical reasons made up 27.5 percent.

During December, the total number of checks in circulation in Jordan amounted to 577,000, indicating a 1.8 percent increase compared to the 567,000 checks in November.

The total value of checks in circulation for December reached JD4.44 billion, compared to JD3.2 billion in November 2023, marking a substantial increase of 38.8 percent.

Read more National news
Jordan News