Jordan Sees Rise in Returned Checks as Processing Volumes Slip in September
Published By Arab Hub Post Staff
Jordan recorded an increase in returned checks during September, with their value climbing to JD134.4 million from JD114.7 million in August, representing 3.54% of the total value of checks handled over the preceding three months.
A total of 15,100 checks were returned last month. Of these, 61.1 % – or 9,198 items – were sent back for financial reasons, while the remaining 38.9 % – or 5,858 checks – were returned due to technical issues.
Check Processing Trends
The volume of checks processed in September fell by 4.3 % to 532,000 pieces, whose aggregate value amounted to JD3.8 billion. This compares with 556,000 checks worth JD3.81 billion in August. According to Jordan Payments and Clearing Company (JoPACC), the September value was down 0.3 % from the previous month.
Cumulative Statistics
From the start of this year through the end of September, the cumulative value of checks processed in Jordan reached JD33.81 billion. In the previous year, the country processed 6.51 million checks with a total value of JD40.3 billion.
Regional Perspective
Such indicators are regularly monitored by financial authorities across the Arab world to gauge the reliability and confidence in payment systems.
