Regulatory Alerts2024-07-01
Added · Updated
Central Bank of Jordan Circular Amending IFRS 9 and AAOIFI Standards Effective January 1, 2025
The Central Bank of Jordan amends Instructions No. (13/ 2018) for IFRS 9 and No. (6/ 2020) for AAOIFI standards to align with Instructions No. (8/ 2024) on credit exposure classification, effective January 1, 2025. Licensed banks must reduce the aggregate portfolio measurement threshold from JD 250,000 to JD 150,000 and adopt a 30-day delinquency indicator for Stage Two classification. The circular also mandates that new credit extensions to Stage Two clients be limited to 25% of outstanding balances and restricted to financing activities rather than paying off existing debts.
Topics
Share