General Information

Jordan is an economically open country. Jordan is a unique country in the Middle East because it has been able to benefit for several years from political stability, which has generated economic activity, in a region that is strongly impregnated with instability. To date, investment commitments and projects with Gulf Cooperation Council (GCC) countries and other international partners are underpinning economic activity.

Its financial system has benefited from structural reforms ensuring a regulatory framework in line with international standards and consequently attracting foreign investors, especially from neighboring countries. Its banks have been fully privatized and opened to both domestic and foreign shareholders.

Jordan relies heavily on imports to meet its energy and food needs. The economy is service-oriented: financial services, tourism and ICT. In recent years, the country has suffered from the geopolitical context of the region.

The main economic challenges are related to infrastructure development. The country has significant needs in the areas of water, energy, waste and urban transport.  It intends to respond to them through Public-Private Partnerships, with the support of major multilateral or bilateral donors.

It is important to note that there is a gap with western countries regarding the weekend: Friday and Saturday.

Means of Payment & Banking Specificities

The mains invoicing currencies are the euro and the US dollar.

To secure payments, we strongly recommend the use of a confirmed documentary credit with payment on demand or even within 30 days.

Late payments are very frequent and very important if the payment is not secure, most often due to cash flow problems.

Advance payments are possible if the amount justifies it.