Regulatory Alerts2022-03-27
Added · Updated
Central Bank of Jordan Instructions for Implementing IFRS 9 No. 13/2018
The Central Bank of Jordan mandates that all banks, including Jordan branches, subsidiaries, and consolidated groups, implement IFRS 9 through specific governance, classification, and measurement rules. The instructions require boards to approve business models and automated systems for calculating Expected Credit Losses (ECL) across three stages based on credit risk changes. Financial assets are classified into portfolios such as amortized cost or fair value, with specific provisions for equity and debt instruments, while Sharia-compliant banks are subject to ECL requirements under Islamic Accounting Standard No. 25.
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