Regulatory Alerts2017-12-21
Added · Updated
Central Bank of Jordan Circular No. 10/1/205: Amendments to Credit Classification Instructions and Provisions for Seized Real Estate
The Central Bank of Jordan amends Instruction No. (2009/47) to redefine non-performing loan classification upon full payment and to permit initial restructuring cash installments of at least 3% in exceptional cases, down from the standard 5%. Licensed banks are required to maintain seized real estate allowances at a minimum of 10% annually until reaching 50% for properties violating Banking Law No. (28) of 2000. These amendments apply to licensed banks and were effective until December 31, 2017, with subsequent extensions noted.
Topics
Share