RegAlert

Rule · CBJ · 4 Feb 2018

Capital Adequacy Instructions According to Revised Standard No. 15 Issued by the Islamic Financial Services Board

capital
islamic-finance

The Central Bank of Jordan issued Circular No. 72/2018 to implement the Islamic Financial Services Board's Revised Standard No. 15 for Islamic banks. The directive mandates that banks submit capital adequacy ratio calculations starting from the first quarter of 2018, with quarterly consolidated and semi-annual all-level reports due by the 15th of the following month. Banks must also provide specific forms based on their December 31, 2017 financial position within one month and obtain prior Central Bank approval before listing new Tier 1 or Tier 2 capital instruments. This circular repeals previous instructions and circulars dated 2010, 2003, and 2013.

JordanCentral Bank of Jordan

No.: 10/1/1765
Date: 18/5/1439 Hijri
Corresponding to: 4/2/2018
Regulatory Capital Instructions According to the Revised Standard no. (15) issued by the Islamic Financial Services Board (IFSB) no. (72/2018) Issued by the Central Bank of Jordan based on the provisions of Article (99/b) of the Banking Law No. (28) for the year 2000 and its amendments After Greetings, In accordance with the provisions of Article (36/a) of the Banking Law, a CD is attached hereto that includes Capital Adequacy Instructions According to the Revised Standard no. (15) issued by the Islamic Financial Services Board. In this regard, the following has been decided:

  1. Each of the Islamic banks must provide the Central Bank with forms of the
    capital adequacy ratio calculating in accordance with these instructions, starting from the data of the first quarter of 2018. So that its quarterly at the consolidated level and semi-annual at all levels. Provided that we receive the forms no later than the fifteenth of the month following the date of such data, and one month after the date of the first data to be provided to us in accordance with the instructions.

  2. Provide the Central Bank, within a month from its date, with forms of the
    capital adequacy ratio calculating at all levels in accordance with these instructions depends on the bank’s financial position as of 31/12/2017, with the aim of studying the impact of applying these instructions on the solvency ratios of banks.

  3. Obtaining the prior approval of the Central Bank before the bank lists any new
    financial instruments within Tier 1 or Tier 2 Capital.

  4. These instructions shall come into force as of the data of the first quarter of
    2018, and the following instructions and circulars shall be cancelled:

  • Regulatory capital adequacy instructions no. (50/2010) dated 19/8/2010.
  • Circular no. (10/1/12905) dated 2/9/2003.
  • Circular No. (10/5/928) dated 27/1/2013.
    Respectfully,
    Governor
    Dr. Ziad Fariz

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36/a) of the Banking LawNot in RegAlert · 200036/a) of the Banking Law — Not in RegAlert · 2000Banking Law No. (28)Not in RegAlert · 2000Banking Law No. (28) — Not in RegAlert · 2000Circular No. 10/1/12905 dated2003-09-02Not in RegAlertCircular No. 10/1/12905 dated 2003-09-02 — Not in RegAlertCircular No. 10/5/928 dated2013-01-27Not in RegAlertCircular No. 10/5/928 dated 2013-01-27 — Not in RegAlertInstruction No. 50 dated2010-08-19Not in RegAlertInstruction No. 50 dated 2010-08-19 — Not in RegAlertCapital Adequacy InstructionsAccording to Revised Standard…2018-02-04 · this documentCapital Adequacy Instructions According to Revised Standard No. 15 Issued by the Islamic Financial Services Board (2018-02-04)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (5)
Supersedes
  • Circular No. 10/1/12905 dated 2003-09-02Not in RegAlert

    “Circular no. (10/1/12905) dated 2/9/2003.”

  • Circular No. 10/5/928 dated 2013-01-27Not in RegAlert

    “Circular No. (10/5/928) dated 27/1/2013.”

  • Instruction No. 50 dated 2010-08-19Not in RegAlert

    “Regulatory capital adequacy instructions no. (50/2010) dated 19/8/2010.”

Issued under
  • 36/a) of the Banking LawNot in RegAlert · 2000

    “In accordance with the provisions of Article (36/a) of the Banking Law”

  • Banking Law No. (28)Not in RegAlert · 2000

    “Issued by the Central Bank of Jordan based on the provisions of Article (99/b) of the Banking Law No. (28) for the year 2000 and its amendments”

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