Central Bank of Jordan Circular on Approved Professional Certifications for Insurance Agents

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

[Logo of the Central Bank of Jordan]

Reference No.: 15860 / 12/17 Date: 25 / 2 / 1445 AH Corresponding to: 10 / 9 / 2023 AD

Dear Respected Insurance Agents,

Subject: Approved Specialized Professional Certifications for Insurance Agents

Based on the provisions of paragraph (b) of Article (109) of the Law Regulating Insurance Business No. (12) of 2021, and the provisions of item (1) of paragraph (a) and item (1) of paragraph (b) of Article (6), and item (1) of paragraph (a) and item (1) of paragraph (b) of Article (7) of the Instructions for Licensing Insurance Agents and Regulating Their Business and Responsibilities No. (10) of 2023, concerning specialized professional certifications in insurance, I hereby decree the following:

a) For the purpose of licensing in general insurance business, the following professional certifications are approved:

1. Diploma In Insurance - DIP CII issued by the Chartered Insurance Institute (CII).
2. Advanced Diploma In Insurance - Advanced DIP CII issued by the Chartered Insurance Institute (CII).
3. Fellowship FCII issued by the Chartered Insurance Institute (CII).
4. BIBF issued by the Bahrain Institute of Banking and Finance (BIBF).
5. Advanced BIBF issued by the Bahrain Institute of Banking and Finance (BIBF).
6. PIC issued by the Bahrain Institute of Banking and Finance (BIBF).

b) For the purpose of licensing in life insurance business, the following professional certifications are approved:

1. ALMI issued by the Life Office Management Association.
2. FLMI issued by the Life Office Management Association.

c) For the purpose of licensing in the branch of life annuities and/or investment-linked insurance branch and/or collective pension fund management branch, I hereby decree the approval of the following professional certifications:

1. FLMI issued by the Life Office Management Association.
2. The Financial Legislation Examination conducted by the Financial Advisor Securities and Exchange Commission (Financial Advisor).
3. Certified Investment Securities and Investment (CISI) Institute Examinations:
   • International Introduction to Investment Securities.
   • International Certificate in Wealth & Investment Management.
   • Risk in Financial Services.

d) The professional certification examinations mentioned in paragraphs (a) and (b) and item (1) of paragraph (c) of this decision are approved for the purpose of fulfilling the examination stipulated in item (4) of paragraph (a) of Article (5) and item (2) of paragraph (b) of Article (17) of the aforementioned Instructions, for the relevant insurance branches.

e) The provisions of this decision shall be effective as of September 1, 2023.

The Governor Dr. Adel Al-Sharqas

Copy to: Dear Respected Insurance Companies

Classification Level: Public

Form (1/1/1)