Regulatory Alerts2021-09-07
Added · Updated
Central Bank of Jordan Circular No. 10/1/1343 Regarding Checkbook Issuance Regulations
The Central Bank of Jordan amends Item No. 4 of Circular No. 10/1/5134 to limit its application to individual clients, thereby granting banks flexibility in dealing with the corporate sector. This change addresses difficulties faced by banks in applying the previous requirement to corporate clients, particularly in the trade sector. Banks must continue to apply all other items in the circular to both individual and corporate sectors when issuing checkbooks.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 10/1/1343 Date: 24/1/1443 AH Corresponding to: 2/9/2021 AD
Circular to All Licensed Banks
Greetings,
Continuing the Central Bank's approach of monitoring and reviewing the instructions and circulars issued by it, including Central Bank Circular No. (10/1/5134) dated 24/3/2021 regarding the regulation of the process of issuing checkbooks, and in light of the receipt of a number of inquiries and observations from the aforementioned banks which indicated that banks faced difficulties in applying Item No. (4) thereof to corporate clients, especially the trade sector, I have decided to amend the content of the aforementioned item so that its application is limited to individual clients at banks, granting banks flexibility in dealing with the corporate sector specifically, while emphasizing the necessity of applying all other items contained in the aforementioned circular to both the individual sector and the corporate sector when issuing checkbooks.
Please accept our highest respect,
The Governor Dr. Ziad Faris