ABJ Some +70,000 borrowers benefitted of postponing Ramadan installment

Installments of more than 70 thousand borrowers in the holy month of Ramadan were postponed by banks working in Jordan, in an initiative targeting easing obligations of borrowers that usually increase in this month.

ABJ Chairman Hani Al Qadhi said in a press statement that banks responded to requests of more than 70 thousand customers to postpone payment of their due loan installments in Ramadan. The total value of postponed installments exceeded JD15 million.

Such a move, he added, helped to alleviate burdens of families and individuals and allowed them to have the necessary liquidity to meet the needs of the holy month and the eid. At the same time, it helped markets by strengthening demand and increasing commercial activity.

It is worth mentioning that many banks took the initiative to postpone settlement of the Ramadan installment to alleviate burdens on borrowers, a step that borrowers highly appreciated.

Al Qadhi concluded that banks made a remarkable achievement by finalizing the process of postponing installment payments in such a short time, despite the great technical efforts required for the process to be done.