JODIC Reduces The Annual Membership Fee Rate of Member Banks To (1.75) Per Thousand.

Subject to the provisions of Jordan Deposit Insurance Corporation (JODIC)’s Law no. (33) for the year 2000, the Board of Directors decided to "Reduce the annual membership fee paid by the member bank to the Corporation from (2.5) to (1.75) per thousand of total deposits subject to the provisions of JODIC’s Law".

The Board’s decision was backboned by the soundness of the banking system in the Kingdom and the prudential banking supervision supported by the best international practices; in addition to the indicators related to the sufficiency of the Corporation reserves’ level which has reached the targeted level in accordance with JODIC’s law; thus enables the Corporation to carry out its mandates and powers stipulated in its Law. Also, the Board’s decision aims at mitigating the financial burdens of member banks.

It is worth mentioning that JODIC provides full protection to 97.3 % of total depositors whose deposits are subject to the provisions of JODIC’s Law, with the coverage limit of JD 50,000 per depositor per member bank.