Regulatory Alerts2020-06-02
Added · Updated
Central Bank of Jordan Guide on Reporting Bounced Checks During the Corona Pandemic
The Central Bank of Jordan mandates that banks modify the calculation of grace periods for bounced checks from working days to calendar days for the period between 26 February and 31 December 2020. Banks are required to report checks from the first three periods no later than 31 October 2020, while prohibiting the collection of commissions during those periods but allowing a 5 dinar fee for checks returned in the fourth period. The directive specifies distinct grace periods and reporting deadlines for the Medical Supplies, Food Materials, and Other sectors, with standard instructions resuming on 3 January 2021.
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