Banks are not deferring their clients' loan installments for the month of June as was the case in the past three months, Governor of the Central Bank of Jordan (CBJ) Ziad Fariz said on Monday, June 1.

However, Fariz highlighted that the most heavily affected people by the COVID-19 pandemic's economic fallout will be able to submit applications to defer installments on their loans for June, a sigh of relief for many.

Based on the CBJ's recommendation, clients who submit loan deferral applications will not have to pay extra fees or moratory interests, as this will not affect their credit rating. These measures will continue taking effect throughout 2020.

The Governor noted that interested clients should visit their banks to make necessary arrangements, as they will have to bear in mind that they will be required to submit documents proving they have been affected by the pandemic.

Also read: Source: So far, no decision taken to postpone bank loan installments for June