
Jordan: 21,300 returned cheques in June worth $159mln — JoPACC
The total number of returned cheques in June reached 21,300, of which 69.8 per cent worth JD76.5 million were returned for financial reasons, and 32.4 per cent worth JD 36.7 million were returned for technical reasons, according to data reviewed by Al Mamlaka TV.
The number of cheques in circulation increased by 26.9 per cent in June to 562,000, compared to 443,000 in May.
The total value of cheques circulated in Jordan last month hit JD3.35 billion, marking an increase of 8.2 per cent compared to the previous May.
The value of cheques circulated in Jordan in the first six months of 2025 reached JD19.59 billion.
The number of cheques circulated in Jordan in 2024 amounted to 6.51 million, with a value of JD40.3 billion.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
42 minutes ago
- Zawya
Saudi trading in US stocks hits record $51.54bln in Q2 2025
RIYADH — Saudi investors' trading activity in U.S. equities surged to an all-time high in the second quarter of 2025, with transactions through licensed financial institutions reaching SR193.4 billion ($51.6 billion), according to data released by the Capital Market Authority (CMA). The figure represents a 230 percent increase from the same period in 2024, when trading totaled SR58.6 billion. On a quarterly basis, it rose 18 percent, or SR29 billion, compared to SR164.3 billion in the first quarter of this year. The CMA noted that while the report captures trading values by licensed Saudi brokers in global markets, it does not include data on the number of Saudi-owned portfolios abroad, nor trades executed directly through foreign intermediaries. The data showed that trading in U.S. markets accounted for 98.6 percent of the SR196.2 billion in total Saudi trading across international markets during the quarter. By comparison, Saudi trading in Gulf equities reached SR2.2 billion, an 88 percent year-on-year increase. Other markets saw limited activity, with Arab markets accounting for SR289 million, European SR157 million, Asian SR78 million, and other markets SR95 million. The CMA's historical data indicates a consistent upward trajectory in Saudi interest in U.S. equities since 2022, with a sharp acceleration beginning in 2024. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (


Zawya
42 minutes ago
- Zawya
Kuwait's merged Warba-Gulf Bank can grow for 10 years without capital hike, CEO says
The new Islamic banking entity resulting from the merger of Kuwait's Warba Bank and Gulf Bank will be able to grow for about ten years without raising capital, Warba's chief executive said. Shaheen al-Ghanem told Reuters that Gulf Bank's 7 billion dinars ($22.9 billion) in assets would grow significantly once brought under the Islamic banking framework. "This gives us a larger market share in Kuwait," he added. Warba Bank, which has assets of about 6 billion dinars, acquired a 32.75% stake in Gulf Bank in April for about $1.63 billion, and the two began initial steps the following month towards a merger. Kuwait's central bank on Monday gave Gulf Bank preliminary approval to convert into a sharia-compliant bank. Al-Ghanem said that the merger with Warba would speed up Gulf Bank's process of converting into an Islamic lender, as systems, procedures, a sharia board, products and staff were already in place. Warba, meanwhile, is set to gain from Gulf Bank's strong retail business and its more than 50 branches, taking the combined network to about 70 and creating what al-Ghanem said was an institution with the largest branch network in Kuwait. He said that Gulf Bank has yet to use its capacity to issue Tier 1 or Tier 2 instruments, a "hidden advantage" that the new entity must use to issue sukuk after the merger. Kuwait hosts ten local banks – five conventional, four Islamic and one specialised lender - and local branches of foreign banks. Al-Ghanem expects there to be more mergers among Kuwaiti banks, something he views as a healthy development. "Many bank owners are currently thinking about their next move: remain independent or merge," he said. In 2024, Kuwait Finance House, Kuwait's largest Islamic bank, merged with Bahrain's Ahli United Bank, which also owns a Kuwaiti subsidiary of the same name. (Reporting By Ahmed Hagagy, editing Federico Maccioni, Kirsten Donovan)


Zawya
42 minutes ago
- Zawya
Saudi Arabia to launch voluntary pension and savings scheme for foreign workers
RIYADH — Saudi Arabia is preparing to announce a new voluntary pension and savings program that will be open to both Saudi and foreign workers, according to the International Monetary Fund's (IMF) latest Article IV consultation report, cited by Al-Eqtisadiah newspaper. The program is designed to boost household savings and is expected to help curb the outflow of workers' remittances abroad. The Public Pension and Savings Program is anticipated to be unveiled soon. Foreign remittances from Saudi Arabia rose 14 percent last year to SR144.2 billion ($38.4 billion). Over the past decade (2015–2024), they totaled SR1.43 trillion. As of the first quarter of 2025, Saudi Arabia had 12.8 million subscribers in the social insurance system, 77 percent of whom — nearly 10 million — were expatriates. The IMF report noted that recently implemented pension reforms, approved in July 2024, are expected to strengthen long-term financial sustainability. These reforms included raising the retirement age, extending contribution periods, increasing contribution rates, and restricting pension benefits. While the changes are unlikely to generate immediate fiscal savings since the system is currently balanced, the IMF stressed the need to fully assess and disclose the medium-term impact. The upcoming voluntary pension and savings program, open to both Saudis and expatriates, was described as a welcome step that could significantly enhance household savings and reduce external remittances. The IMF also highlighted the size of GOSI's assets, which amount to 32 percent of Saudi Arabia's GDP, underscoring the importance of improving transparency through stronger financial disclosures and clearer allocation rules. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (