Financial and Banking News
Jordan Tightens Forex Controls, Liberalizes Interest
In a move designed to relieve pressure on the local currency the CentralBank of Jordan has liberalized its domestic interest rate policy by abolishingthe coupon ceiling on certificates of deposit. The old ceiling was 7.375% forCDs of more than JD1,000 with a maturity greater than three months. Theliberalization is expected to drive up local interest rates and attract more...