ABJ chairman Hani Qadhi said the CBJ decision to postpone dividends of banks for the fiscal year 2019 aims to support the national efforts to fight corona virus.

This decision, he added, means that dividend payout will be according to the closing financial statements of 2020. This decision, he said, is in line with international approaches adopted by central banks and monitoring authorities in the world to contain the spill over of corona pandemic.

“This measure by CBJ will enhance the strength of Jordanian banks in the world system during this crisis, and will help banks in supporting national efforts to help other economic sectors to recover from repercussions of covid-19,” he said.

Al Qadhi pointed out that the participatory approach of the CBJ and banks aim to safeguard the interests of national economy. Banks have exerted noteworthy efforts in postponing installments of loans of affected sectors, whether individuals or companies, once the CBJ instructions were issued to this effect.

He further highlighted the social contributions of banks via the program of “Himmat Watan,” and other programs that were launched since the beginning of the corona crisis to help our countrymen surpass the economic effects of the lockdown on their living conditions.

Banks’ indispensable role does not stop at this, he said. Since the start of the corona crisis, they have studied the financing needs of public and private sectors. Despite risks facing society and customers, banks have adopted health safety precautions to all their customers and employees according to the best health regulations in force when they restarted working.

Banks are working day and night to provide basic services of having cash and feeding ATMs with the necessary liquidity for customers, even in days when work has stopped, he said. They were also working efficiently in departments of remittances and documentary credits to maintain the ongoing basic supplies coming into the kingdom.

In regard of the new program that the CBJ launched to finance SMEs, Al Qadhi said banks have started the implementation of the program, and banks received huge numbers of applications from SMEs to benefit of the program which will enable these businesses to access financing and continue their work and keep their workers.

It is worth mentioning that the CBJ has taken many measures to confront the corona epidemic. Measures included lowering interest rates by 1.5%, lowering mandatory cash reserves from 7% to 5%, in addition to lowering interest rates on ongoing CBJ programs which banks implement in service of different economic sectors.

ABJ chairman Hani Qadhi said the CBJ decision to postpone dividends of banks for the fiscal year 2019 aims to support the national efforts to fight corona virus.

This decision, he added, means that dividend payout will be according to the closing financial statements of 2020. This decision, he said, is in line with international approaches adopted by central banks and monitoring authorities in the world to contain the spill over of corona pandemic.

“This measure by CBJ will enhance the strength of Jordanian banks in the world system during this crisis, and will help banks in supporting national efforts to help other economic sectors to recover from repercussions of covid-19,” he said.

Al Qadhi pointed out that the participatory approach of the CBJ and banks aim to safeguard the interests of national economy. Banks have exerted noteworthy efforts in postponing installments of loans of affected sectors, whether individuals or companies, once the CBJ instructions were issued to this effect.

He further highlighted the social contributions of banks via the program of “Himmat Watan,” and other programs that were launched since the beginning of the corona crisis to help our countrymen surpass the economic effects of the lockdown on their living conditions.

Banks’ indispensable role does not stop at this, he said. Since the start of the corona crisis, they have studied the financing needs of public and private sectors. Despite risks facing society and customers, banks have adopted health safety precautions to all their customers and employees according to the best health regulations in force when they restarted working.

Banks are working day and night to provide basic services of having cash and feeding ATMs with the necessary liquidity for customers, even in days when work has stopped, he said. They were also working efficiently in departments of remittances and documentary credits to maintain the ongoing basic supplies coming into the kingdom.

In regard of the new program that the CBJ launched to finance SMEs, Al Qadhi said banks have started the implementation of the program, and banks received huge numbers of applications from SMEs to benefit of the program which will enable these businesses to access financing and continue their work and keep their workers.

It is worth mentioning that the CBJ has taken many measures to confront the corona epidemic. Measures included lowering interest rates by 1.5%, lowering mandatory cash reserves from 7% to 5%, in addition to lowering interest rates on ongoing CBJ programs which banks implement in service of different economic sectors.