Regulatory Alerts2023-01-04
Added · Updated
Central Bank of Jordan Circular No. 14/3/9/45: Submission of 2022 Financial Statements by Licensed Exchange Companies
The Central Bank of Jordan mandates licensed exchange companies to submit audited 2022 financial statements prepared under International Financial Reporting Standards by the end of March 2023. The circular requires specific disclosures regarding related-party transactions, legal liabilities, fraud, branch operations, and detailed breakdowns of remittance volumes, revenues, and commissions for the top five markets. Companies must also attach exchange rate and precious metal valuation tables, a copy of the auditor's contract confirming AML/CFT compliance, and the auditor's assessment of such compliance. Failure to adhere to these requirements subjects the companies to penalties under Article 26 of the Exchange Business Law No. 44 of 2015.