Circular to All Licensed Banks

Reference: 16/3 Date: 18 Muharram 1442 AH Corresponding to: 06 September 2020 AD

Following the instructions of the Central Bank's program for financing and supporting economic sectors (granting medium-term loans to licensed banks, Reference No. (2011/54) dated (2011/03/14)) and our Circular No. 7297/96/1/3 dated 2013/6/12 regarding the inclusion of the tourism sector (financing the construction of hotels, rest areas, and public tourist facilities) within the program, and continuing with the measures taken by the Central Bank to contain the negative repercussions of the coronavirus on the national economy, and to enable various economic sectors to maintain their operations and preserve their employees, the Central Bank of Jordan has decided to include financing for covering the salaries of workers at leading tourism offices operating in Jordan and the payment of rents and other operational expenses for these offices within the permissible financing objectives through the tourism sector under the Central Bank's program for financing and supporting economic sectors, with a total value of 1.2 billion Dinars, as follows:

1. The loan ceiling for each office shall not exceed (250,000) Dinars.
2. The loan is granted for financing salaries and operational expenses only.
3. Banks must ensure that salaries, wages, and operational expenses are disbursed based on accounting entries or transfer orders for the benefit of workers and service providers, and that the borrower provides the bank with a statement of its employees and their salaries from the Social Security Corporation when these wages and salaries are disbursed monthly, and provides the Central Bank with proof thereof.

Governor Dr. Ziad Fries

info@cbj.gov.jo • Email • www.cbj.gov.jo • Website • 4638624, 4638889 • Fax • 4630301 • Phone • Jordan - Amman 11118 • P.O. Box 37