Regulatory Alerts2024-01-14
Added · Updated
Central Bank of Jordan Circular on Extending Validity of Certain Instructions and Circulars
The Central Bank of Jordan extends the implementation of specific banking instructions and circulars until December 31, 2024. This extension applies to Instruction No. 47/2009, specifically Clause II/C/5 regarding the classification of paid credit facilities as non-performing loans, and to Clauses I/B and II of Circular No. 1/1/11084 dated August 27, 2018. These directives remain in force for banks operating in the Kingdom of Jordan.
[Logo of the Central Bank of Jordan]
Reference No.: 7/10/310 Date: 3/7/1445 AH Corresponding to: 14/1/2024 AD
Circular to Banks Operating in the Kingdom
Greetings,
With reference to the instructions and circulars issued by the Central Bank, the implementation of which ended on 2023/12/31, I have decided to extend the implementation of the following items from those circulars and instructions until the date 2024/12/31:
- Instruction No. (47/2009) dated 2009/12/10, with the continued modification of Clause (II/C/5) to read: "Credit facilities to which the classification criteria applied as non-performing loans and for which the client has paid the full value of dues (principal, interest, and commissions)".
- Clause (I/B) and Clause (II) of Circular No. (1/1/11084) dated 2018/8/27.
In this context, we note that the Central Bank will continue its approach of following up on the review of its issued instructions and making any modifications necessitated by circumstances, in service of the national economy and in accordance with international standards and sound banking practices.
Please accept our highest regards,
Governor Dr. Adel Al-Sharkas