Regulatory Alerts2020-07-20
Added · Updated
Central Bank of Jordan Circular No. 8771/3/10 on Loan Installment Deferrals
The Central Bank of Jordan requires banks operating in the Kingdom to expand the definition of 'affected' clients eligible for loan installment deferrals to include individuals and employees whose salary increases or bonuses were deferred due to the coronavirus pandemic. This directive amends the scope of Circular No. 4375/3/10 by explicitly adding deferred compensation to the criteria previously limited to interrupted or reduced income. Banks are mandated to apply these provisions with flexibility to alleviate the financial burden on the specified sectors.
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