COVID led to more borrowing from banks — Mahrouq

7. Association of Banks (Eta Max) AOB
(Photo: Eta-Max)
AMMAN — President of the Association of Banks in Jordan Maher Al-Mahrouq said on Wednesday that the COVID-19 pandemic led to an increase in borrowing from Jordanian banks during 2021, according to Ad-Dustour daily.اضافة اعلان

The lockdown during the pandemic had a negative impact on all sectors, he said, stressing that banks were able to help citizens meet their needs and compensate for difficulties they faced during the COVID-19 crisis.

Mahrouq said the Central Bank of Jordan’s  decision to increase interest rates “did not surprise the banks”, adding that its aim is to control inflation rates and maintain the value of the Jordanian dinar.

“Despite the increase in interest rates, the appetite for borrowing is considered acceptable,” he said.

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