Regulatory Alerts2018-06-05
Added · Updated
Central Bank of Jordan Instructions for Implementing IFRS 9 No. 13/2018
The Central Bank of Jordan mandates the implementation of IFRS 9 for all banks, including branches, subsidiaries, and consolidated entities, with specific provisions for Islamic banks regarding Expected Credit Losses (ECL). The instructions establish governance requirements, define financial asset classification into amortized cost or fair value categories, and detail the three-stage ECL model based on credit risk deterioration. Banks are required to maintain robust systems for data collection, model validation, and reporting, while adhering to specific disclosure and supervisory statement obligations.
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