ِAMMAN — Banks violate the law and legal interpretations by
retroactively raising
interest rates on loans, the former head of the Bar
Association, MP Saleh Al-Armouti, said on Tuesday. Jo24 reported.
اضافة اعلان
Banks, he added, are “preying on citizens”.
He criticized the Central Bank for its silence on such practices
and its failure to circulate judicial decisions in this regard to banks.
“Even if the contracts signed between the bank and the borrower
stipulate the bank’s right to raise interest rates, this condition is not
binding,” he added. “Especially if the conditions were unfair, the court can
invalidate them,” he said.
Armouti also stressed that contracts must be free of “conditions of
compliance.
There are judicial decisions preventing citizens from being charged
any excess costs, he added that the
Central Bank must circulate these
decisions.
What most banks are doing is deemed an encroachment on citizens and
is considered a violation of the law and the Constitution.
The Constitution “stipulates that the religion of the state is
Islam, which prohibits usury,” he added.
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