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Jordanian banks urged to facilitate loans to SMEs

Banks operating in Jordan have been asked by the central bank to reduce the interest rate on loans extended to small- and medium-sized enterprises (SMEs), Jordan Times has reported. After the central bank reduced the interest rate and eased bank reserve requirements, banks in the kingdom are estimated to have around JD4bn in excess money. According to official figures, Jordan is home to more than 100,000 SMEs, a figure which represents more than 90% of the total number of operating companies in the country.