Mubasher: Central Bank of Jordan (CBJ) reported a rise of 3.1% or JOD 44 million in the absolute value of the bounced checks in the first 10 months of 2015, compared to the same period last year.
The bounced checks value reached JOD 1.458 billion in the first ten months, higher than JOD 1.414 billion in the same period year ago, according to the CBJ financial statements.
The statements also showed a fall in the absolute value of the returned checks due to insufficient funds in the January-October period by 2.9% to JOD 786 million, down from JOD 810 million in the same period of 2014.
The absolute value of returned checks for other reasons rose in the above period by 11% to JOD 671 million, versus JOD 603 million in the same time last year.
Circulation checks also increased in the ten months by 1.4% to JOD 40.2 billion, compared to JOD 39.65 billion in the same period last year.
Despite the rise in the absolute value of bounced checks, it stayed at the level of 3.6% of the circulation checks, as a result of the rise in the value of the latter.
The absolute value of the bounced checks increased despite the fall in its volume in the first ten months, as it rose by 9.5% to 434 million checks.
