Regulatory Alerts2023-06-20
Added · Updated
Central Bank of Jordan Circular on Basic Bank Account Customer Feedback
The Central Bank of Jordan directs all licensed banks to mitigate customer complaints regarding Basic Bank Accounts, specifically prohibiting fees beyond those stipulated in relevant instructions. Banks must address issues including ATM functionality failures, unauthorized account closures, missing transaction notifications, and the deduction of unauthorized commissions ranging from 500 fils to 1.5 Jordanian Dinars. This directive references previous communications and requires institutions to inform the regulator of their corrective actions.
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