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2022-10-27

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Central Bank of Jordan Circular No. 37/2022 Regarding Official Banking Hours and System Operations

The Central Bank of Jordan mandates that licensed banks operate from 8:30 AM to 4:00 PM, with public counter services available from 9:00 AM to 3:30 PM. The circular specifies distinct operating hours for the Jordanian RTGS system, the Automated Clearing House (ACH), and specific windows for deposit and check exchange activities. These operational requirements apply to all licensed banks and take effect on October 30, 2022.

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In the Name of Allah, the Most Gracious, the Most Merciful

[Logo of the Central Bank of Jordan]

Reference No.: 10/2/17509 Date: 1/4/1444 AH Corresponding to: 27/10/2022 AD

Memorandum to Licensed Banks No. (37/2022)

Greetings,

Based on the provisions of Article (35/A) of the Banking Law No. (28) of 2000 and its amendments, please be informed of the following:

  1. The official working hours for licensed banks shall be from 8:30 AM to 4:00 PM.
  2. Public counter services shall operate from 9:00 AM to 3:30 PM.
  3. The daily working hours for the "Real-Time Gross Settlement System - Jordan" shall be as follows: a. The system's working day begins at 9:00 AM within the period of bilateral transfer exchange between members and continues until 3:30 PM. b. The "Liquidity Period" begins at 3:30 PM and continues until 4:00 PM. c. The working day in the system ends at 4:00 PM.
  4. The daily working hours for the "Automated Clearing House (ACH) System" shall be from 9:00 AM to 4:00 PM, structured as follows: a. The first exchange session begins at 9:00 AM and continues until 11:00 AM. b. The second exchange session begins at 11:30 AM and continues until 1:30 PM. c. The third exchange session begins at 2:00 PM and continues until 3:15 PM. d. The fourth (evening) exchange session for financial movements carrying a subsequent value date begins at 3:30 PM and continues until 4:00 PM.

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Central Bank of Jordan CENTRAL BANK OF JORDAN

  1. The deposit window for Jordanian Dinar deposits shall accept deposits from 2:45 PM to 3:45 PM.
  2. The check exchange time shall be determined through the Electronic Clearing System as follows: a. Check submission for the session begins at 2:00 PM and continues until 2:00 PM of the next working day. b. The response begins on the morning of the working day and continues until 3:30 PM of the same day.
  3. The Bank's Cash Office at the Central Bank shall commence transactions with licensed banks for cash withdrawal and deposit purposes from 9:00 AM to 2:30 PM.
  4. This memorandum shall be effective as of 2022/10/30.

Please accept our highest regards,

[Signature] Governor Dr. Adel Al-Sharkas

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Form (09/01/1/1)

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