Regulatory Alerts2025-02-18
Added · Updated
Central Bank of Jordan Climate Risk Management Instructions No. 2-2025
The Central Bank of Jordan issues binding climate risk management instructions for all banks operating in the Kingdom, requiring the integration of climate risks into corporate governance, business strategies, and risk management frameworks. The regulations mandate specific board and senior management responsibilities, the establishment of dedicated climate risk units for locally systemically important banks, and the implementation of a three-lines-of-defense model for risk identification and control. Banks must update their Internal Capital Adequacy Assessment Process (ICAAP) to account for climate risks and submit compliance reports to the Central Bank within six months of the instructions' issuance.
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