No. 13



Jordanian Commercial Banks Drop Prime Lending Rates As GDP Growth Rises

Jordans commercial banks agreed on 20 March to cut prime lending rates to 9% as of 1 April. According to statements from the Bankers Association of Jordan, the decision to reduce the rate from the existing 11-12% was in line with the governments monetary policy. The announcement follows a meeting between Prime Minister'Ali Abu Raghib and banking officials at which lowering lending rates...