Central Bank of Jordan Circular on Strengthening AML/CFT Compliance and Training for Licensed Exchange Companies

Central Bank of Jordan

Ref: 1419/2/9
Date: 26/8/1441 AH
Corresponding to: 2020/8/19 AD

Circular to Licensed Exchange Companies

Greetings,

Further to our Circular No. (5845/1/9) dated 2019/4/15 and based on the provisions of Paragraph (First/D) of Article (10) and Article (12) of the Anti-Money Laundering and Counter-Terrorism Financing Instructions for Exchange Companies No. (2018/70) and its amendments dated 2018/7/5, and in light of the Central Bank of Jordan's commitment to providing adequate awareness to exchange companies in the field of anti-money laundering, counter-terrorist financing, and proliferation financing, I emphasize the necessity for the company to strengthen its specialized and qualified human resources in the field of compliance and develop relevant training programs directly related to money laundering and terrorist financing issues. These programs must include the building of scenarios and suspicion indicators, ensuring that the company conducts reviews of warning signs within appropriate timeframes, particularly for the company's compliance officer and their deputies.

We emphasize in this context the importance and necessity of giving the subject of training your employees, as stated in our aforementioned circular, the necessary attention to ensure the development of their knowledge, skills, and capabilities in this field.

Please accept our highest respect,

The Governor
Dr. Ziad Fariz

P.O. Box 37, Amman 11118 - Jordan Phone: 9 * 4630301 / Fax: 4638889, 4639730 Website: www.cbj.gov.jo Email: info@cbj.gov.jo