Total bank assets in Jordan amounted to 55.27 billion dinars

The Director General of the Association of Banks in Jordan, Dr. Maher Al-Mahrouq, revealed that the total bank assets amounted to about 55.27 billion dinars at the end of last August, pointing out that the balance of government bonds and bills with the Jordanian banking system recorded 7.56 billion dinars, which constitutes 13.68% of the total bank assets .

Al-Mahrouq told the Jordanian newspaper, Al-Rai, published today, Sunday, that banks are one of the sources of government financing by investing them in treasury bills and bonds, indicating that the internal debt from bank sources accounted for 42.56% of the internal debt of the central government at the end of the first half of the year. 2020.

With regard to the interest rates on bonds, between Al Mahrouq, they vary according to the date of issuing the bond, the interest rate prevailing in the market at the time of issuance, and according to the maturity period of the bond.

He added that the longer the bond, the higher the interest rate on it, indicating that the interest rate prevailing in the market at the time of issuing the bond is one of the main determinants.

He pointed out that if the interest rates in the market (local and international) are high, the interest rates on the bond will be higher, noting that interest rates on bonds have witnessed a significant decrease during the current year as a result of lower interest rates prevailing in the global and local market.

Al-Mahrouq pointed out that the financing provided to the government by the banking system does not constitute competition for the private sector in obtaining financing, as the available liquidity in the banking sector is considered high.

He explained that the Central Bank of Jordan, through its management of cash liquidity with the Jordanian banking system, is constantly keen to provide appropriate amounts of loanable funds to all economic sectors, whether it is the government or the private sector.

Al Mahrouq stated that the credit facilities granted by licensed banks to the private sector grew by 6.1% during the first eight months of this year, or 1460 million dinars, indicating that they constitute 93.4% of the total increase in credit facilities during this period.

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