Regulatory Alerts2024-01-02
Added · Updated
Central Bank of Jordan Circular on Financial Reporting and Exchange Rates for 2023
The Central Bank of Jordan requires licensed exchange companies to submit their final 2023 financial statements by the end of March 2024, ensuring adherence to International Financial Reporting Standards. The circular mandates the use of specific foreign currency exchange rates and precious metal prices as of December 31, 2023, for valuation purposes. Companies must also complete and submit attached forms detailing their top five markets for issuing and receiving remittances, including transaction volumes, revenues, and average commission rates. Failure to comply with these requirements subjects the companies to penalties under Article 26 of the Exchange Business Law No. 44 of 2015.
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