Regulatory Alerts2022-12-20
Added · Updated
Central Bank of Jordan Circular on Basic Account Customer Feedback and Fee Compliance
The Central Bank of Jordan mandates that all banks operating in the Kingdom cease imposing fees or commissions on basic bank accounts beyond those stipulated in relevant instructions. This directive follows a study revealing that current practices, such as unauthorized low balance and ATM card fees, contradict Basic Account Instruction No. (2019/1). Banks are required to study customer observations regarding service failures and fee deductions identified in the circular's attachment.
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