Committee plans to protest retroactive increase in interest rates

Central Bank of Jordan CBJ
(File photo: Jordan News)
AMMAN — A committee representing individuals impacted by a recent bank decision has declared its intention to carry out a protest in front of the Central Bank building on Monday.اضافة اعلان

The protest aims to voice opposition to the retroactive increase in interest rates imposed on borrowers, Jo24 reported.

Legal steps taken by the committee
The committee has taken several legal steps to address the issue. In the first stage, borrowers were instructed to inform their respective banks about the sudden hike in loan interest rates.

The committee then proceeded to collect signatures from 400 borrowers who confirmed their refusal to accept the increased rates.

Finally, the committee plans to organize a peaceful protest in front of the Central Bank premises to convey a clear message of rejection against the interest rate escalation.

The committee has highlighted that borrowers faced difficulties in obtaining copies of their loan contracts, as certain banks refused to provide them.

However, some banks engaged in negotiations with borrowers. These discussions resulted in alternative options such as reducing the interest rate or waiving two installments at the end of the loan period.

The committee strongly emphasizes that the protest it has called for is a peaceful, constitutional, and entirely legal approach to deliver a message to the governor of the Central Bank.

The intention is to engage in a dialogue with the governor and draw attention to the grievances of borrowers affected by the retroactive interest rate increase.

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