Central Bank of Jordan Circular No. 757/4/2/10 Regarding Deceased Depositor Account Balances

In the name of Allah, the Most Gracious, the Most Merciful

Central Bank of Jordan

Reference No.: 757 / 4 / 2 / 10
Date: 10/8/1434 AH
Corresponding Date: 19/8/2013 AD

Greetings,

Further to our Circular No. (4300/2/10) dated 13/4/2005, we attach herewith a copy of the letter from His Excellency the Minister of Finance No. (11843/12/1/21) dated 2/6/2013, for you to act in accordance with its contents and to provide us with confirmation thereof.

Accept our highest respect,

• The Governor
  Dr. Ziad Fariz

Enclosed

Website: www.cbj.gov.jo • E-mail: info@cbj.gov.jo • Fax: 4638889, 4639720, 4639721 • Phone: 4630301 • P.O. Box: 37 • Amman 11118, Jordan

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Referring to the Deputy Governor
Mr. Dr. Samer Shamsi

Reference No.: 11843 / 12 / 1 / 21 /
Date: 2013/06/02
Corresponding Date:

His Excellency the Governor of the Central Bank

It has been noted that some commercial banks operating in the Kingdom are distributing the balances of deceased depositors' accounts to heirs without referring to the Sharia courts, which have jurisdiction and competence in dividing estates to their rightful owners, without collecting the prescribed fees for the General Treasury, in accordance with the provisions of the Sharia Courts Establishment Law No. (19) of 1972 and its amendments, and the Sharia Courts Fees System No. (55) of 1983 and its amendments.

And since the division of estate balances deposited with banks by those banks directly to heirs does not align with the provisions of the Sharia Courts Establishment Law, in addition to its negative effects on the rights of the General Treasury in the fees due on these estates when divided among heirs as specified in the Sharia Courts Fees System No. (55) of 1983 mentioned above, which Article (33) of which stipulates that "a fee of three percent of the net estate is due upon its division or delivery to the heirs or one of them after deducting expenses, debts, and estate fees and costs."

And in accordance with the provisions of the relevant effective legislations, and with a keenness to secure the rights of the Treasury accordingly, I request Your Excellency to kindly instruct the confirmation to all commercial banks operating in the Kingdom not to divide and deliver the estates deposited with them or transfer them to any of the heirs' accounts or any other accounts, and to transfer them to the Sharia courts to carry out the legal requirements and divide and deliver them to the heirs in due course after collecting the prescribed fees in accordance with the applied legislations.

Accept our highest respect,
Dr. Amieh Saleh Touqan
Minister of Finance

Copy: His Eminence the Chief Qadi
HK 2013 - 101 - Revenues

Hashemite Kingdom of Jordan www.mof.gov.jo • Website: P.O. Box 85 • 11118 Amman • Fax: 496668678 • Phone: 49666321