Rule · CBJ · 25 Aug 2015
The Central Bank of Jordan instructs banks to adhere to Ministry of Interior guidelines for foreign investors depositing funds to obtain residency permits. Banks must place a hold on the specified amount in the client's account without opening a new deposit account in the Ministry's name, releasing funds only upon official Ministry authorization or annual residency renewal. These instructions apply to all foreigners, not exclusively Iraqi investors.
In the Name of Allah, the Most Gracious, the Most Merciful
Central Bank of Jordan
CENTRAL BANK OF JORDAN
Reference No.: 10561
Date: 17/10/1436 AH
Corresponding Date: 25/7/2015 AD
Circular to Banks Operating in the Kingdom
Greetings,
Further to our letter No. (2758/4/2/10) dated 8/3/2015, we enclose herewith a copy of the letter from His Excellency the Minister of Interior No. (176912/Investment/A/10/8) dated 9/7/2015, for your action according to the proper procedures.
Please accept our highest respect,
Governor
Dr. Ziad Friez
Enclosed
Website: www.cbj.gov.jo • E-mail: info@cbj.gov.jo • Fax: 4639721, 4639712, 4638889 • Phone: 463-3-1 • Amman 11118 Jordan P.O. Box 27
Reference No.: 176912
Date: 1/7/2015
Corresponding Date: 1/1/1436 AH
His Excellency the Governor of the Central Bank
Reference to your letter No. 5643/2/10 dated 7/5/2015 Regarding the financial amounts deposited by foreign investors for the purpose of obtaining residency permits.
We request your kind attention that the intent of our letters No. 10/1/1/Investment/50765 dated 3/3/2015 is merely to hold the amount in favor of the Minister of Interior, in addition to its function, while keeping that amount in the client's account and not releasing the hold except by an official letter issued by the Ministry of Interior, and not releasing the difference of previous deposits except in the case of annual residency renewal or its return, and relying on the latest correspondence received by you on this matter, and there is no need to open a deposit account at the bank in the name of the Ministry of Interior, noting that these instructions apply to all foreigners and not to Iraqi investors only.
We request your kind attention to review and instruct the necessary action.
Please accept our highest respect,
Salama Hammad
Minister of Interior
General Director of the Ministry of Interior
Abdulrahman bin Duwain
Hashemite Kingdom of Jordan www.moi.gov.jo - Website - Jordan • P.O. Box 100 Amman • Fax: +962 6 5691141 • Phone: +962 6 5606908
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