AMMAN — The Jordan Strategy Forum (JSF) on Saturday issued a briefing paper on the impact of COVID-19 on the performance of Jordanians banks, the Jordan News Agency, Petra, reported.

The published paper showed an increase in insurance budget to cover expected losses due to the repercussions of COVID-19, noting that it was the “main culprit” behind the decrease of net profit among registered Jordanian banks compared with the first nine months of 2020 and 2019. The provided data also indicated that Jordanian banks still maintain a level of financial efficiency and flexibility.

The Central Bank of Jordan (CBJ), for instance, cut interest rates equivalent to 50 and 100 basis points, allowing Jordanian banks to defer payments of affected sectors and retail agents without imposing additional charges, Petra reported.

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