Regulatory Alerts2018-02-06
Added · Updated
Central Bank of Jordan Circular on Requirements for Money Transfer Agency Applications
The Central Bank of Jordan mandates specific documentation for licensed money exchange companies applying to act as principal agents, sub-agents, or international partners for money transfer services. Applicants must submit risk assessments, financial statements, regulatory approvals from foreign jurisdictions, and ownership structures, with a defined threshold of 10% capital interest constituting an influential interest. The Circular explicitly states that applications failing to meet these requirements will not be considered and that providing the documents does not guarantee approval.