jordan pulse -

Representatives of the commercial sector called, on Wednesday, to postpone loan installments for two months or more without interest or interest penalty; This will reflect positively on increasing the purchasing power of citizens by reducing the obligations of borrowers.

The head of the Syndicate of Restaurant and Sweets Owners, Omar Al-Awwad, told Al-Mamlaka that postponing loan installments will contribute to increasing the liquidity and purchasing power of citizens in light of the stagnation of some markets.

Al-Awad called for tightening control over the markets, after "the prices of some basic commodities, such as poultry, meat and dairy, rose by about 20 percent two weeks ago."

For his part, Sultan Allan, head of the Clothing, Textile and Shoe Merchants Syndicate, confirmed to The Kingdom that it is necessary to postpone loan installments for two months without interest, which will benefit the citizen and contribute to the movement of the markets.

Allan indicated that postponing loans is considered a temporary solution at the present time to improve economic conditions, calling on the government and banks to cooperate in that "popular demand."

Member of the Board of Directors of the Jordan Chamber of Industry, Fawaz Shakaa, pointed to the weak market demand and lack of liquidity, stressing that postponing loans for 2-3 months will help increase purchasing power.

Al-Shakaa explained to Al-Mamlaka that with the approaching month of Ramadan, the demand for postponing installments has become necessary and very important, in order to contribute to improving the economic conditions of citizens and merchants.

In the same context, a member of the Board of Directors of the Amman Chamber of Commerce, Asaad Al-Qawasmi, called for postponing loan installments for at least 3 months without interest or interest penalty.

Al-Qawasmi said that if banks decide to postpone loan installments for individuals, 250 million dinars will be pumped into the local market.

And he considered that postponing loan installments is in the interest of the economy and its wheels, and helps in moving the markets, but not all of the sums will come to the markets; Because the family's priorities are different.

Al-Qawasmi added that there are currently 1.2 million borrowers from banks, or about 4-5 million families who will benefit from postponing loan installments. Which will be reflected in the process of shopping for citizens; Especially with the approaching month of Ramadan.

The Association of Banks indicated in a previous statement that postponing loan installments requires studying its justifications and availability.

The director of the association, Maher Al-Mahrouq, said that the postponement of loan installments is related to the search for justifications for the postponement, and the extent to which they are available or not, as the current year is not the first year in which the month of Ramadan or any other occasions takes place.