logo
Demand for Jordanian dinar surges ahead of Eid holiday

Demand for Jordanian dinar surges ahead of Eid holiday

Ammon03-06-2025
Ammon News - Demand for the Jordanian dinar is "significantly" increasing at exchange agencies in the local market, ahead of Eid al-Adha holiday and the start of the summer season, representative of financial and banking sector at the Jordan Chamber of Commerce (JCC), Firas Sultan, said.
Sulatn noted the activity is primarily due to the "crucial" increase in remittances from Jordanian expatriates, which "typically double" during those periods to meet their families' needs during the holiday.
Sulatn indicated that this growth is reflected in the increased volume of foreign currency exchange in favor of the Jordanian dinar.
"These remittances are a main source of foreign currency in the local market and directly contribute to strengthening monetary reserves and supporting the purchasing power of Jordanian households, especially amid Eid preparations," he pointed out.
According to data from the Central Bank of Jordan (CBJ), remittances from Jordanian expatriates increased by 3% during the first quarter of this year, reaching $889 million.
The bank added that the return of thousands of Jordanian expatriates to spend their holidays in the Kingdom during the Eid holiday and the increased tourist activity contribute to increased demand for the dinar, stressing the importance of this financial activity in supporting the Kingdom's economic cycle.
Sultan also praised the CBJ's "key" role and its "prudent" policy in maintaining Jordan's monetary policy and enhancing confidence in the local currency.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Six nations join Jordan in Gaza aid airdrop mission
Six nations join Jordan in Gaza aid airdrop mission

Roya News

timean hour ago

  • Roya News

Six nations join Jordan in Gaza aid airdrop mission

The Jordan Armed Forces today, Wednesday, conducted an airdrop operation into the Gaza Strip with planes from six nations, delivering approximately 79 tons of food and relief supplies. In addition to aircraft from the Royal Jordanian Air Force, the mission included planes from Germany, the United Arab Emirates, Belgium, France, and Italy. With this latest delivery, the total number of airdrop operations conducted by the Jordanian Armed Forces since airdrops resumed on July 27 has reached 153. The total number of joint airdrops with partner nations now stands at 331, with a total of nearly 765 tons of relief and essential supplies dropped by the Royal Jordanian Air Force since then. The Jordanian aircraft today also carried aid provided by the Canadian government, according to the JAF statement.

ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals
ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals

Al Bawaba

time7 hours ago

  • Al Bawaba

ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals

Abu Dhabi Islamic Bank PJSC (ADIB), a leading Islamic financial institution in the UAE, has signed an agreement with the Abu Dhabi Housing Authority (ADHA) to provide top-up home financing solutions to UAE nationals. The partnership reflects a joint commitment to expanding affordable top up housing finance and supporting the development of sustainable communities in line with the Abu Dhabi government's broader social agreement allows eligible Emirati beneficiaries to apply for a top-up finance on their housing loan issued by the Abu Dhabi Housing Authority, a program supported by the Abu Dhabi Government. Through this agreement, the Abu Dhabi government aims to extend the support by offering top up financing solutions subsidized by 50% of the profit of the finance, enabling beneficiaries to secure homes that better meet their evolving family needs and lifestyle agreement was signed during a ceremony attended by H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, and Mohamed Abdelbary, Group Chief Executive Officer at this agreement, citizens who have received loans for purchasing or building a home from the Abu Dhabi Housing Authority, and whose monthly income exceeds AED 30,000, will be eligible to obtain additional financing of up to AED 500,000. The repayment period can extend up to 25 years, in accordance with the regulations of the Central Bank of the United Arab Emirates and in compliance with Islamic Sharia principles. The Government of Abu Dhabi will cover 50% of the profit and Murabaha charges associated with this on this partnership, H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, said: 'This agreement with Abu Dhabi Islamic Bank reflects the Abu Dhabi Housing Authority's commitment to providing accessible financing solutions that support citizens' aspirations of owning suitable homes. It also contributes to enhancing family stability and quality of life for Emirati families. At the Authority, we are working to expand collaboration with private sector institutions to enable citizens to access flexible financing options that align with their needs and help realize their aspirations.'Mohamed Abdelbary, Group Chief Executive Officer at ADIB, added: 'This partnership underscores ADIB's commitment to empower UAE nationals on their journey to home ownership. By offering Sharia-compliant top-up housing finance in collaboration with the Abu Dhabi Housing Authority, we are not only meeting the growing demand for flexible financing options but also helping to build future-ready communities. With the support of the Government of Abu Dhabi, this agreement will offer citizens the opportunity to own homes that align with their aspirations and provide a living environment that better suits their needs.' The agreement responds to the increasing demand for tailored housing finance solutions among Emiratis and supports the Abu Dhabi Government's vision of fostering social stability through sustainable housing development. Through ADIB's ethical and Sharia-compliant financial products, beneficiaries will benefit from a simplified application process, competitive rates and a seamless customer experience.

2.3 million of Jordan's population aged 15–24
2.3 million of Jordan's population aged 15–24

Ammon

time8 hours ago

  • Ammon

2.3 million of Jordan's population aged 15–24

Ammon News - Jordan's population estimates for 2024 indicated that about 2.3 million people, 20 percent of the total population of 11.7 million, are aged 15–24, according to the Department of Statistics (DoS). In a statement marking International Youth Day on Tuesday, it said the distribution of youth mirrors the overall population spread: Amman 41.6 percent, Irbid 19.1 percent, and Zarqa 14.2 percent, with the other governorates ranging between 1 percent and 5.7 percent. The youth gender ratio stands at 116 males per 100 females. The adjusted economic participation rate for youth is 21.5 percent (32.5 percent for males and 8.9 percent for females), compared to 65.9 percent for the general population aged 15 and over, according to the data. Computer use among youth aged 15–19 is 64.2 percent overall, and 47.9 percent for those aged 20–24. Internet use is nearly universal, exceeding 96 percent in all youth subgroups. Literacy among youth reaches 99.3 percent, with 32.7 percent holding a high school diploma or higher, the statistics showed. Marriage is rare among youth, with 4.6 percent married and 95.3 percent single. Among married women, family planning awareness stands at 27 percent for ages 15–19 and 46.4 percent for ages 20–24, according to the data. Petra

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store