Regulatory Alerts2022-12-26
Added · Updated
Central Bank of Jordan Circular No. 48/2022 Regarding Fifth Issue Jordanian Currency
The Central Bank of Jordan requires licensed banks to sort deposited cash by the fourth and fifth currency issues and further classify them as fit or unfit for reissue. Banks must also ensure that all deposited cash is free from counterfeit banknotes. Failure to comply with these sorting and verification obligations will result in the Central Bank refusing to accept any cash payments from the banks.
[Logo of the Central Bank of Jordan]
Number: 2 / 2 / 20598 Date: 2 Jumaada al-Akhirah 1444 AH Corresponding to: 26 December 2022 AD
Memorandum to Licensed Banks No. (48 / 2022)
Greetings,
In parallel with the introduction of the fifth issue denominations of Jordanian currency into circulation, which will be alongside the fourth issue denominations of Jordanian currency, and with the Central Bank of Jordan's commitment to meeting your currency needs and facilitating the process of depositing and withdrawing Jordanian currency, please confirm the necessity to adhere to the following:
First: Sorting the denominations of cash deposited in your current account with us, across all denominations, into the fourth issue and the fifth issue separately, each issue individually.
Second: Sorting the denominations of each issue individually from the deposited cash into fit-for-reissue currency and unfit-for-reissue currency, and ensuring that the deposited cash is free from any counterfeit banknotes.
Emphasizing that in case of non-compliance with the above clauses, we will be forced to not accept any cash payments from you.
Please accept our highest respect,
The Governor Dr. Adel Al-Sharkas