Medium Term Advances to Licensed Banks Program
First: The purpose of the program:
The program was initiated to enhance the access of economic sectors, particularly sectors with high added value, to financing with adequate terms and costs so as to solidify the chances of comprehensive and sustainable growth in the Kingdom.
Second: The advantages of the program:
Comprehensiveness: The program covers the major economic sectors with the ability to expand and offer employment. The customer may apply to benefit from the program through traditional and Islamic banks working in the kingdom.
The low costs of financing with different terms adequate to the needs of the sectors:
Providing adequate amount of funds for the work of targeted sectors:
The amount of available funds within this program currently stands at about 1.1 billion JOD ( equal to 5% of direct credit facilities granted by banks).:
Flexibility in the granting and payment as well the fixed interest rate for the whole advance term. The granting and payment of the advance are either in one installment or several ones depending on the project.:
Third: The mechanism for benefiting from the program:
