Ammon News - The value of bounced cheques rose in May to JD103.6 million, compared to JD72.4 million in April, according to statistics from the Jordanian Company for Payment and Clearing Systems (JoPACC).

The total number of bounced cheques in May reached 18.6 thousand, of which 33.3% were due to financial reasons (6,190 cheques worth JD36.7 million), while 66.7% were for technical reasons (12,415 cheques worth JD66.9 million).

The number of circulated cheques increased by 26% in May to 552,000 cheques with a value of about JD3.33 billion, compared to 438,000 cheques in April valued at JD3.18 billion.

The rate of bounced cheques out of total circulated cheques remained stable at 3.4% in May, compared to 2.8% in April.