Regulatory Alerts2019-05-04
Added · Updated
Circular No. 3/14736: Expansion of the Medium-Term Loan Grant Program to Include the Agriculture Sector
The Central Bank of Jordan expands the medium-term loan grant program to include the agriculture sector for licensed banks. This decision applies Instruction No. (54) of 2011 regarding loan granting to the new sector alongside existing support for industry, tourism, and renewable energy. The directive requires banks to provide necessary financing at appropriate interest rates aligned with the program's objectives.
[Logo of the Central Bank of Jordan]
Number: 3/ 14736 Date: 16 Safar 1436 AH Corresponding to: 09 December 2014 AD
Circular to all Licensed Banks
Greetings,
Continuing the Central Bank's approach of supporting key economic sectors to contribute to stimulating growth and development in the Kingdom, it has been decided to expand the umbrella of the medium-term loan grant program for licensed banks to include the agriculture sector. This serves as a continuation of the support provided to the "Industry, Tourism, and Renewable Energy" sectors within the framework of favorable interest rates, subject to the application of Instruction No. (54) of 2011 regarding the granting of loans.
Furthermore, the Central Bank looks forward to banks providing the necessary financing for these sectors at appropriate interest rates that align with the objective of this program.
Please accept our highest regards,
Governor Dr. Ziad Fariz