Ammon News - Director General of the Association of Banks in Jordan (ABJ), Maher Mahrouq, stressed the right of the Jordanian banks to raise interest rates for borrowers, according to contracts concluded with clients.

In a statement to Ammon, Mahrouq said that banks agree with customers on the periodicity of raising or lowering interest.

“The customer signed the terms before borrowing .. and this is not surprising”, Mahrouq stated.

He added, "Contracts concluded between banks and customers are signed according to the instructions for dealing with customers fairly and transparently, as banks do not take decisions without the customer signing on to that."

He pointed out that despite raising interest rates, the non-performing loan ratio decreased by 0.06 percent, and facilities and deposits increased at the same time, which indicates the prudence of Jordanian banks.

He concluded, "Our indicators are positive and moving in the right direction."