Regulatory Alerts2022-12-27
Added · Updated
Central Bank of Jordan Collection Guidelines for Microfinance Companies
The Central Bank of Jordan mandates that all supervised microfinance companies prepare and implement a binding collection policy effective April 1, 2023. The guidelines restrict communication to specific channels and limit telephone calls to five per week and 25 per month between 8:00 AM and 5:00 PM, while prohibiting harassment and unauthorized third-party contact. Companies must document customer objections and resolve them within 10 working days, suspend communication on disputed amounts, and ensure third-party collectors adhere to the same compliance standards.