Banks Association clarifies 'CliQ' service commission in Jordan

Jordan

Published: 2024-02-25 22:10

Last Updated: 2024-06-22 08:54


Banks Association clarifies 'CliQ' service commission in Jordan
Banks Association clarifies 'CliQ' service commission in Jordan

Maher Al-Mahrouq, Director of the Association of Banks, disclosed that banks and relevant entities in Jordan's banking sector are considering implementing fees and charges for "CliQ" services.

Speaking on Roya's Nabd Al-Balad program on Sunday, Al-Mahrouq stated that banks and authorities are currently conducting assessments to explore the potential imposition of fees or setting specific charges for "CliQ" services.

As of now, Al-Mahrouq clarified that no fees have been enforced, and the study will take several months to evaluate the feasibility of implementing charges.

The rationale behind the study, according to Al-Mahrouq, is to ascertain the actual expenses associated with the system, highlighting that it entails fundamental costs for banks.

He emphasized that the "CliQ" system facilitates money transfers to banks through advanced technology and electronic transactions, ensuring convenience and security.

Al-Mahrouq noted that the volume of operations on CliQ services surged to 1.2 million users last year, with over 30 million transactions totaling JD 5.1 billion.

Earlier statements by Maha Al-Bahou, CEO of the Jordanian Payment and Clearing Systems Company (JOBAC), revealed a growing demand for the "CliQ" payment service, with 1.24 million users and transactions totaling JD 694 million.

Al-Bahou highlighted that the majority of CliQ users are aged between 18 and 40, with approximately 60 percent male and 40 percent female.

There is a plan to introduce transaction commissions for CliQ during the second quarter of this year, Al-Bahou mentioned, specifying that the commission would be nominal and variable, citing the continuous service provision by banks round the clock as the reason behind this initiative.