Bonded Services Instructions No. (7-2001) dated 16-4-2001

The Central Bank of Jordan approves instructions defining private bonded services provided by banks as banking activities, provided the stored goods serve as collateral for facilities granted to the client who owns the goods. The instructions prohibit storing goods for clients or others for a fee in any circumstance other than the one specified in the first provision.

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In the name of Allah, the Most Gracious, the Most Merciful Form (01/10/11)

Number: 3446 / 10/2/3/3
Date: 20/1/1427 AH
Corresponding to: 16/4/2006 AD

Bonded Services Instructions
No. (7/2001)
Issued by the Central Bank of Jordan pursuant to the provisions of Article (99/b) of the Banks Law

Pursuant to the provisions of Article (37/a/13) of Banks Law No. (28) of the year 2000, the following is approved:

(1) Private bonded services provided by banks are considered activities related to banking operations as long as the goods stored in this bonded warehouse are considered collateral for the facilities granted to the client to whom the goods belong.

(2) It is not permitted to store the goods of clients or others for a fee other than the case mentioned in the first item.

The Governor
Dr. Ameya Touqan

Lineage: In force

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Source: Central Bank of Jordan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works