Amendment of the Upper Limit for Interest/Yield on Credit Payment Instruments

CENTRAL BANK OF JORDAN

Central Bank of Jordan

Reference No.: 4/1/248 Date: 27/8/1447 AH Corresponding to: 15/2/2026 AD

Circular to Payment and Money Transfer Companies Subject to the Supervision and Oversight of the Central Bank of Jordan Amendment of the Upper Limit for Interest/Yield on Credit Payment Instruments

Greetings,

With reference to the Financial Consumer Protection Instructions for Payment and Electronic Money Transfer Companies No. (2021/3) dated 2021/3/3, which obligate companies to include several clauses in related contracts regarding the issuance of credit payment instruments, including "that the upper limit of interest/yield shall not exceed 1.75% monthly," it has been decided to amend Article (23/A) of the aforementioned Instructions to read as follows:

"that the upper limit of interest/yield shall not exceed 1.5% monthly."

Accordingly, please act in accordance with this amendment to take the necessary measures to regularize affairs and apply the modified rate to all existing and future credit payment instruments, and to amend systems and procedures to ensure compliance and notify customers in due course. This circular shall come into effect within a maximum period of (60) working days from its date, and you are required to provide us with evidence supporting your compliance with its provisions.

Please accept our highest regards,

Governor Dr. Adel Al-Sharkas

Phone: +962 6 463 0301 Fax: +962 6 463 8889 Email: info@cbj.gov.jo Website: www.cbj.gov.jo Central Bank of Jordan P.O. Box (37) Amman, 11118 Jordan