JD835.6 million worth of bounced checks in the last eight months

(Photo: Jordan News)
AMMAN — The total value of bounced checks dropped by JD 424 million, citing a decline of 33.6 percent during the first eight months of 2021 compared to the same period in 2020, according to the Central Bank Statements. اضافة اعلان

The value of the bounced checks amounted to around JD 835.6 million during the first eight months of 2021 compared to JD1.259 billion from the same time last year.

The rate of bounced checks to legitimate checks reached 3.4 percent in the last four months compared to 5.7 percent in the same period in 2020.

The total value of legitimate checks (submitted for clearance) increased by 10 percent during the first eight months of 2021, which amounted to JD 24.27 billion, while bounced checks declined by 1.3 percent within that same time at a total of 4.49 million checks.

During these months last year, the legitimate checks amounted to JD 22.06 billion, and a total of 4.55 million bounced checks were used.

However, the total value of returned checks due to balance insufficiency reached JD561 million.

As for returned checks, for other reasons, the amount reached JD 274 million in the last four months.

Returned checks in 2020 amounted to around JD 1.73 billion. In 2019, they added up to JD 1.57 million in 2019.

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