Jordan moves up in WB's credit index report: CBJ

AMMAN Jordan has been ranked fourth in the World Banks 2020 Doing Business Report getting credit index, compared with 134th in the 2019 report, the Central Bank of Jordan (CBJ) said on Wednesday.

The CBJ attributed Jordans progress in the index to the development of all sub-indices included under the main index, including the strength of legal rights sub-index, which measures the degree to which laws of guarantees and bankruptcy protect lenders and borrowers, the Jordan News Agency, Petra, reported.

In this sub-index, Jordan received 11 points out of 12, compared to zero in the previous report, the CBJ said, citing the endorsement of the 2018 Insolvency Law and other relevant laws as a contributing factor.

The Kingdom also improved in the depth of credit information sub-index, receiving eight out of eight points. Indicators of this index measure rules and practices that affect the scope and coverage of credit information, their availability and the quality of credit information available through a public register or special centre.

Jordans ranking for the indicators of credit registry coverage and credit bureau coverage also increased to 5 per cent and 22.9 per cent, respectively.

The 2020 report ranked 190 countries in 10 indices, which include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.