Regulatory Alerts2023-03-12
Added · Updated
Amendment to Corporate Governance Instructions for Microfinance Companies No. 2020/10
The Central Bank of Jordan amends the Corporate Governance Instructions for Microfinance Companies to permit board and committee meetings to be held via electronic means or a hybrid of physical and electronic attendance. Specifically, Article 5 is updated to allow electronic board meetings upon approval and documentation by the Chairman and Secretary, while Article 9 allows committee members to attend electronically with Chairman approval. Additionally, Article 12 item (h) is repealed and subsequent items are renumbered. These changes apply to licensed microfinance companies and take effect immediately upon the circular's date.
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