Central Bank of Jordan Circular on Automated Clearing House (ACH) Transactions

Central Bank of Jordan Number: 6784/2/10 Date: 25 / 7 / 1440 AH Corresponding Date: 1 / 5 / 2019 AD

Memorandum to Licensed Banks Number (15 / 2019)

Greetings,

On the occasion of the approaching holy month of Ramadan, please be informed of the following:

1. The official working hours for licensed banks throughout this blessed month shall be from 8:30 AM until 2:00 PM.

2. Public dealings shall begin at 9:00 AM and end at 1:30 PM.

3. The daily working hours for the "Jordan Real-Time Gross Settlement System" (JORDAN-RTGS) shall be as follows: a- The system's working day begins at 8:45 AM within the period of bilateral transfer exchanges between members and lasts until 2:00 PM. b- The "Liquidity Period" begins at 2:00 PM and lasts until 2:30 PM; only transfer orders to match pending orders in queues or existing daytime repurchase transactions are processed during this period. c- The working day in the system ends at 2:30 PM.

4. The daily working hours for the "Automated Clearing House (ACH) System" shall be as follows: a- The first exchange session of the working day begins at 9:00 AM and lasts until 10:15 AM. b- The second exchange session of the working day begins at 10:45 AM and lasts until 12:15 PM. c- The third exchange session of the working day begins at 12:45 PM and lasts until 1:45 PM. d- The fourth (evening) exchange session, for financial movements carrying a subsequent value date only, begins at 2:00 PM and lasts until 2:30 PM. e- The working day in the system ends at 2:30 PM.

5. The deadline for receiving deposits in the foreign currency deposit window is from 1:15 PM to 2:15 PM.

6. The time for check exchange is determined through the Electronic Clearing System as follows: a- Check submission for the session begins at 12:00 PM and lasts until 12:00 PM of the next working day. b- Responses begin in the morning of the working day and continue until 2:00 PM of the same day.

7. The Bankers' Cash Box at the Central Bank begins dealing with licensed banks for cash withdrawal and deposit purposes from 9:00 AM until 1:00 PM. Compliance with the specified deadlines is requested as it is of utmost importance.

8. There is no objection to banks - at their discretion - extending official working hours and/or evening hours during the month of Ramadan in order to provide banking services to customers, provided that the bank returns to its normal schedule after the end of the blessed month. We emphasize the necessity of notifying us in advance regarding working hours during this month and the names of branches whose hours will be extended.

Taking this opportunity to offer the best congratulations and greetings for the arrival of the holy month of Ramadan, and wishing you well every year.

Accept our highest regards,

Governor Dr. Ziad Fariz