AMMAN —
Total deposits in local banks grew by JD34.2 million during the first two
months of the year over their number at the end of 2021, Khaberni said citing data
released by the
Central Bank of Jordan (CBJ).
اضافة اعلان
The value of
total deposits at the end of the first two months of 2022 reached JD39.55
billion, while at the end of 2021 it stood at JD39.52 billion, or a 0.08
percent increase.
The cash bank
deposits consist of the money individuals or entities keep in banks, which
pledge to return it, or part of it, according to the request and to the
agreed-upon terms. There are three types of deposits: demand deposits, savings
deposits, and term deposits.
The private
sector deposits during the first two months of 2022 amounted to JD36.82 billion,
compared to JD36.7 billion at the end of 2021, a 0.3 percent raise. The private
sector deposits made up 93 percent of the total deposits.
The CBJ policy,
which allows for a huge difference in the interest rate in favor of the
Jordanian dinar, encourages banks and depositors to keep their money in the
form of assets that are valued in the Jordanian dinar, as this is a main pillar
of the monetary policy that protects the dinar, which is linked to the US
dollar.
The public sector deposits increased by 0.9 percent, reaching
JD995 million.
Jordanians working abroad who receive their salaries in
foreign currency transfer part of their savings into dinars due to the interest
rate that could reach 5 percent, depending on the amount.
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