Excess reserves at CBJ stand at JD3.065 billion

The Central Bank of Jordan CBJ announced on Thursday that the volume of excess reserves is JD 3.065 billion, including overnight window deposits . The volume of required reserves is JD1.160 billion, the bank added. Financial expert, Mifleh Aqel said that the decline in the amount of reserves from JD 3.232 billion last week to JD3.065 billion is due to the presence of investment windows for the commercial banks with higher return than that on deposits at the Central Bank. Aqel added that it's a positive indicator for banks to better invest the surplus they have by granting more credit facilities and investments and direct them positively to get high earnings .