Regulatory Alerts2020-01-05
Added · Updated
Central Bank of Jordan Circular on Final Financial Statements for Licensed Exchange Companies
The Central Bank of Jordan requires licensed exchange companies to submit their final 2019 financial statements, certified by a licensed auditor and prepared in accordance with International Financial Reporting Standards, by the end of March 2020. The submission must include detailed clarifications on creditor and debtor accounts, related-party transactions, legal cases, and operational results for headquarters and branches, alongside specific attachments detailing transaction volumes, top five markets, and currency balances. Companies must also list outstanding unpaid amounts under Other Liabilities and ensure their auditor contracts comply with Anti-Money Laundering and Terrorist Financing Law provisions, with non-compliance subject to penalties under Article 26 of the Exchange Business Law No. 44 of 2015.