SMEs need more help — survey

By JT - May 28,2016 - Last updated at May 28,2016

AMMAN — A recent survey that focused on small and medium-scale enterprises (SMEs) in Jordan said banks should adopt appropriate finance mechanisms that cater to increasing credit facilities to SMEs furthermore, especially that they represent more than 98 per cent of the companies registered in the Kingdom.

The study, conducted by the Association of Banks in Jordan (ABJ), also recommended that SMEs' managerial bodies work to develop the financial and marketing skills of their employees.

According to the study, the interest rate of credit facilities extended by commercial banks to SMEs ranges between 8 and 14 per cent, whereas the rate is between 5 and 12 per cent at Islamic banks, according to the Jordan News Agency, Petra.

ABJ Chairman Musa Shehadeh underscored the outcome of the study, emphasising the SMEs large contribution to the economy.

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