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Monday 20 April 2020

Housing Bank Sponsors a Teleconference Meeting Hosted by the Jordan Strategy Forum with the Governor of the Central Bank of Jordan


Housing Bank, the largest and most widespread bank in Jordan, recently sponsored a strategic teleconference meeting hosted by the Jordan Strategy Forum (JSF) with the Governor of the Central Bank of Jordan (CBJ) Dr. Ziyad Fariz to discuss the domestic financing and loan guarantee program launched by the Central Bank of Jordan to tackle the economic ramifications of the coronavirus crisis.

This support by the Housing Bank comes in support of the economic events and activities that add value to the national economy and reinforce the partnership between the public and private sectors, and in support of the JSF efforts to promote the continuous exchange of ideas in view of the global pandemic, seeking methods to further economic development and financial sustainability by hosting opinion leaders and experts in the field of economic affairs.

The meeting's agenda focused on a number of pivotal points, most notable of which was the affirmation of the strength of the Jordanian banking sector, which has, through sound planning, the fortitude to overcome the economic ramifications of the coronavirus pandemic. The meeting also addressed the measures put in place by the CBJ in regards to banking sector in order to avoid major consequences, allowing them to postpone payments and interest on loans for both individuals and companies, as well as restructuring and rescheduling loans for those that incur financial difficulties due to the global shutdown, without additional interest rates or costs. The meeting also addressed the launch of a national initiative to finance small and medium businesses to the tune of JD500 million guaranteed by the Jordan Loan Guarantee Company at the rate of 85%, as well as the reduction of interest rates on lending as part of the CBJ's program to finance economic sectors to half a percentage point outside the capital and one percentage point for projects in the capital for current and new financing.

The Housing Bank was one of the first banks to implement the CBJ's procedures as part of a countrywide program that aims to contain the repercussions of the pandemic on the national economy, including postponing payments on credit facilities granted to companies and individuals, the launch of a financing program that is compatible with the national program for financing small and medium projects, and many others. The Housing Bank will remain on the frontlines of the battle against the coronavirus as part of its belief in its critical role in the national economy, consolidating all its efforts to the betterment of the country.

The Jordan Strategy Forum, established in 2012, is an innovative driver of Jordanian economic development, consolidating a true will by the private sector for effective participation in constructive dialogue on economic affairs of concern to Jordanian citizens and society as a whole in order to achieve a comprehensive economic growth.

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