Regulatory Alerts2020-04-05
Added · Updated
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)
The Central Bank of Jordan amended its program for financing economic sectors to explicitly allow the use of funds for operating expenses, including employee salaries and wages, and working capital. Licensed banks are required to disburse the salary portion via formal transfers to employees or service providers and must receive monthly employee lists and salary details from the Social Security Corporation from borrowers. The Central Bank must also be provided with confirmation of these disbursements.
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