Regulatory Alerts2020-10-28
Added · Updated
Central Bank of Jordan Circular on Extension of Foreign Exchange and Precious Metal Trading Line Approvals
The Central Bank of Jordan extends the validity of approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties until April 17, 2021, or until the issuance of new systems under the Exchange Business Law, whichever occurs first. This extension applies to approvals previously set to expire on October 17, 2020, and requires continued compliance with Articles 20/d and 48/j of the Electronic Payment and Money Transfer System No. 111 of 2017, as well as Article 15/b of the Instructions for Approving Global Electronic Payment Systems No. 2020/3.
Central Bank of Jordan
Reference No.: 14/3/9 / 14192 Date: 11 / 3 / 1442 AH Corresponding to: 28 / 10 / 2020 AD
Circular to Licensed Exchange Companies Subject: Extension of the validity of approvals granted to exchange companies to open lines for dealing in foreign currencies and precious metals with external parties
Greetings,
Based on the decision of the Board of Directors of the Central Bank issued on 2020/10/15, which includes approval to extend the regularization period stipulated in Article (31) of the Exchange Business Law No. (44) of 2015 for a period of six months ending on 2021/4/18, while observing the provisions of Articles (20/d) and (48/j) of the Electronic Payment and Money Transfer System No. (111) of 2017 and the provisions of Article (15/b) of the Instructions for Approving Global Electronic Payment Systems No. (2020/3) dated 2020/2/5. Furthermore, following the approvals granted to licensed exchange companies to open transaction lines in foreign currencies and precious metals with external parties in accordance with the relevant prevailing legislation (including acting as agents for fast money transfer services), which were set to expire on 2020/10/17 or until the issuance of the systems and instructions stipulated in the prevailing Exchange Business Law, whichever comes first, we hereby inform you of the approval to extend the validity of these approvals under the same conditions until 2021/4/17 or until the issuance of the systems and instructions stipulated in the prevailing Exchange Business Law, whichever comes first, while observing the provisions of Articles (20/d) and (48/j) of the Electronic Payment and Money Transfer System No. (111) of 2017 and the provisions of Article (15/b) of the Instructions for Approving Global Electronic Payment Systems No. (2020/3) dated 2020/2/5.
Please accept our highest regards,
The Governor Dr. Ziad Faris
P.O. Box 37, Amman 11118 - Jordan Phone: +96264633030 Fax: 4639730 Website: www.cbj.gov.jo Email: info@cbj.gov.jo