Regulatory Alerts2021-02-12
Added · Updated
Amendments to the Electronic Clearing System Law and Instructions
The Central Bank of Jordan mandates that licensed banks automate the submission of financial soundness indicators (Jordan branches and consolidated financial statements) and non-performing debt, accrued interest, and provisions via the CBJOSS system, starting with March 2020 data. Banks are required to ensure data accuracy under penalty of sanctions under Article 88 of the Banking Law No. 28 of 2000 and must upload historical quarterly data for the periods ending March, June, and September 2020 within two weeks of the circular's date. Specific classification rules are provided for non-performing loans, provisions, and net direct facilities to ensure consistency with CBJ standards.
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