Checks returned for ‘technical reasons’ up 57% — central bank

(File photo: Jordan News)
AMMAN — The Central Bank of Jordan (CBJ) said checks returned for “technical reasons” last month increased by 57 percent, Al-Mamlaka TV reported.اضافة اعلان

It did not explain the technical reasons. CBJ data showed that 7,892 checks, with a total value of $40 million, were returned for technical reasons.

It showed that the number of checks circulating in October increased by 32 percent, compared with the month before, while the value of checks last month increased by 12 percent, over the preceding month.

In total, 21,663 checks with a value of JD120 million were returned in October, making up 0.3 percent of the total circulating checks that month. The CBJ data said of the total, 13,771 checks worth JD80 million bounced, or were returned for “financial reasons”, comprising 2 percent of the circulating checks in October. 

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