Amman: The Cabinet approved a 50% waiver on accumulated fines and legal interest for borrowers indebted to the Jordan Cooperative Corporation (JCC), provided they settle their principal loan balances and remaining fees by the end of the year.
According to Jordan News Agency, Minister of Agriculture and JCC Board Chairperson Saeb Khraisat stated that the initiative aims to ease financial burdens on the agricultural sector and encourage prompt debt resolution. He mentioned that the loans, valued at nearly JD5 million, date back to the former Cooperative Bank before its operations were suspended in 1988, while accumulated legal interest on the loans exceeds JD1.5 million.
To qualify for the relief, borrowers or their legal heirs must pay off the principal loan amount alongside the remaining 50% of penalties. Interested parties are urged to contact the JCC to finalize their settlements before the year-end deadline.