Jordan Commercial Bank and Jordan Mortgage Refinance Company Ltd. (JMRC) have signed an agreement that sees JMRC loan Jordan Commercial Bank JD 10 million at a floating rate interest for five years, issued to refinance housing loans granted by the bank to its clients for mortgages.

The agreement was signed by bank CEO Mr. Caesar Qulajen and JMRC’s Deputy General Manager Abed Al-Razzak Tubaishat.

Commenting on the deal, Mr. Qulajen said, “This agreement helps enhance bank’s role in the Kingdom’ housing finance market by creating more funds to grant housing loans to citizens at competitive interest rates and for periods more suitable for their ability to repay. It also matches the bank’s funds with its uses and more efficiently manages its assets and liabilities.”

Mr. Tubaishat said, “This deal reaffirms that the company offers its customers—investors and debtors—more options to invest or receive loans for long periods and at fixed or variable interest rates. This contributes significantly towards the company’s objective of energizing the housing finance market through refinancing loans, and its objective of energizing capital in the Kingdom through issuing loans.”