Amended Instructions for the Central Bank of Jordan's Program to Finance and Support Economic Sectors (Granting Medium-Term Loans to Licensed Banks No. 2011/54 dated 2011/03/14)

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

[Logo of the Central Bank of Jordan]

Number: 6/3/4658
Date: 11 Sha'ban 1441 AH
Corresponding to: 05 April 2020 AD

Amended Instructions for the Central Bank of Jordan's Program to Finance and Support Economic Sectors (Granting Medium-Term Loans to Licensed Banks No. 2011/54 dated 2011/03/14)

Subsequent to the instructions regarding the Central Bank of Jordan's Program to Finance and Support Economic Sectors (Granting Medium-Term Loans to Licensed Banks No. 2011/54 dated 2011/03/14) and all subsequent circulars issued thereunder, and in continuation of the measures taken by the Central Bank of Jordan to contain the negative repercussions of the COVID-19 virus on the national economy, and with the aim of enabling various economic sectors to maintain their operations and preserve their workforce, the Central Bank of Jordan has decided to include the financing of operating expenses and working capital, including employee salaries and wages, among the permissible objectives in the Central Bank of Jordan's Program to Finance and Support Economic Sectors. Banks are required to ensure that the portion related to salaries, wages, and recurring expenses is disbursed from the financing value via formal transfers or orders to employees and service providers. The borrower must provide the banks with a list of its employees and their salaries from the Social Security Corporation when these salaries and wages are disbursed monthly, and must provide the Central Bank of Jordan with confirmation thereof.

Governor
Dr. Ziad Fries

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P.O. Box 37, Amman 11118, Jordan • Phone: 4630301 • Fax: 4638889, 4639731, 4639732 • E-mail: info@cbj.gov.jo • Website: www.cbj.gov.jo Form (1/1/10/1)

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