Regulatory Alerts2017-12-28
Added · Updated
Central Bank of Jordan Circular on Extension of Credit Classification and Provision Instructions
The Central Bank of Jordan extends the implementation of Circular No. 10/1/15814 and amendments to the instructions for classifying credit facilities and calculating impairment provisions until December 31, 2018. This directive applies to licensed banks and maintains the regulatory framework established by Circular No. 47/2009 and Circular No. 10/1/2510. The extension remains in effect through the end of 2018.
In the Name of Allah, the Most Gracious, the Most Merciful
Central Bank of Jordan
Ref: 10/1/16617 Date: 2/7/1439 AH Corresponding to: 18/4/2017 AD
Circular to Licensed Banks
Continuing the measures taken by the Central Bank of Jordan to confront the repercussions of the global financial crisis and considering the circumstances currently experienced by the region in particular and the world in general, I have decided to extend the implementation of our Circular No. (10/1/15814) dated 6/12/2016 and to extend the implementation of the amendments decided upon the instructions for classifying credit facilities and calculating impairment provisions and general banking risk reserves No. (47/2009) dated 10/12/2009 pursuant to Item (First) of our Circular No. (10/1/2510) dated 14/2/2017, until 31/12/2018.
In this context, we point out that the Central Bank will continue its approach of following up on the review of its issued instructions and making any amendments required by the circumstances in service of the national economy, and in accordance with international standards and sound banking practices.
Please accept our highest regards,...
Governor Dr. Ziad Fariz