RegAlertRule · CBJ · 14 Jul 2024
Central Bank of Jordan Circular on Amendments to Financial Safety Indicators and Limits for Licensed Money Exchange Companies (2023/13)
The Central Bank of Jordan amends the Instructions on Financial Safety Indicators and Their Limits for Licensed Money Exchange Companies, effective for data from July 2024. The fixed assets ratio under Article 4 is increased from 20% to 25% of paid-up capital or equity, whichever is higher. The calculation denominator for all ratios is changed to equity or paid-up capital, whichever is higher, excluding the liquidity indicator. Additionally, Article 5 is amended to cap total assets at five times paid-up capital or equity, excluding assets under IFRS 16.
Central Bank of Jordan
CENTRAL BANK OF JORDAN
Reference No: 1/9/1187
Date: 8 / 1 / 1445 AH
Corresponding to: 14 / 7 / 2024 AD
Circular to Licensed Money Exchange Companies Subject: Instructions on Financial Safety Indicators and Their Limits for Licensed Money Exchange Companies No. (2023/13)
Greetings,
With reference to the Instructions on Financial Safety Indicators and Their Limits for Money Exchange Companies No. (2023/13) communicated to you via our letter No. (19549/2/9) dated 2023/11/15, we wish to inform you that, pursuant to Board Resolution No. (2024/110) dated 2024/6/27, certain amendments have been made to the aforementioned Instructions, as detailed below:
- Amendment of the fixed assets ratio stipulated in Article (4) of the aforementioned Instructions to become (25%) of paid-up capital or equity, whichever is higher, instead of (20%) of paid-up capital.
- Amendment of the calculation mechanism for all ratios so that the denominator in the financial ratios referred to in the aforementioned Instructions becomes equity or paid-up capital, whichever is higher, instead of paid-up capital, with the exception of the liquidity indicator referred to in Article No. (3) of the aforementioned Instructions.
- Amendment of Article (5) referred to in the aforementioned Instructions to read as follows:
"Subject to the provisions of Article (4), total assets - excluding those recognized in accordance with the provisions of International Financial Reporting Standard No. (16) / Leases - shall not exceed five times the amount of paid-up capital or equity, whichever is higher, at any time, and the ratio shall be calculated according to Form No. (3)".
These amendments shall take effect starting from the data for July 2024.
Please accept our highest regards,
The Governor
Dr. Adel Al-Sharkas
[Signature]
P.O. Box 37 • Amman 11118 Jordan • Tel: 4630301 • Fax: 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (2)
- Amends
- Instructions on Financial Safety Indicators and Their Limits for Money Exchange Companies No. (2023/13)Not in RegAlert
“With reference to the Instructions on Financial Safety Indicators and Their Limits for Money Exchange Companies No. (2023/13) communicated to you via our letter No. (19549/2/9) dated 2023/11/15, we wish to inform you that... certain amendm…”
- Issued under
- Board Resolution No. (2024/110) dated 2024/6/27Not in RegAlert
“pursuant to Board Resolution No. (2024/110) dated 2024/6/27, certain amendments have been made to the aforementioned Instructions”
More like this from CBJ
CBJ published 3 documents in the last 30 days. We email you each new one the day it's published.
Source: Central Bank of Jordan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated