Regulatory Alerts2021-03-15
Added · Updated
Central Bank of Jordan Circular on Extending Installment Deferral for Banks
The Central Bank of Jordan extends the implementation of installment deferral for bank customers until December 31, 2021, pursuant to Circular No. (3/10/14960). Banks are permitted to exclude deferred installment periods from the maximum ten-year credit duration granted within the retail portfolio. This directive applies to banks operating in the Kingdom of Jordan.
In the name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan] [Logo of the Jordanian Centenary]
Reference No.: 3/10/4505 Date: 1/8/1442 AH Corresponding to: 15/3/2021 AD
Circular to Banks Operating in the Kingdom
Greetings,
In light of the continued impact on several economic sectors in the Kingdom due to the spread of the coronavirus, I have decided to extend the implementation of Central Bank Circular No. (3/10/14960) dated 22/11/2020 regarding the deferral of installments for bank customers until December 31, 2021.
Furthermore, for the purpose of facilitating relief for customers, banks are also permitted, as an exception, to exclude the periods related to installments deferred under this circular from the maximum credit duration granted within the retail portfolio, which is ten years.
Please accept the highest assurances of respect,
The Governor Dr. Ziad Fariz