AMMAN, Mar 16 (NNN-PETRA) – Jordan’s central bank, on Sunday, decided to lower the compulsory reserves that banks hold, in order to make more liquidity available on the markets.
The remarks were made by the central bank governor, Ziad Fariz, who said that the reserve cuts will be from seven to five percent.
The measures will enable the banks to lower the interest rates on facilities provided to institutions and individuals, he said.
The foreign currency reserve is stable and stands at 14 billion U.S. dollars, which is enough to cover Jordan’s imports for more than seven months.
