Regulatory Alerts2017-04-12
Added · Updated
Central Bank of Jordan Internal Control and Supervision Regulations No. 25/2007
The Central Bank of Jordan issues Regulations No. 25/2007 to establish minimum internal control and supervision standards for banks. The document mandates specific responsibilities for the Board of Directors and Executive Management, requiring the establishment of independent internal audit and risk management functions. It further imposes detailed obligations regarding organizational structure, financial and accounting systems, information technology management, and physical security measures. Additionally, banks are required to submit specific reports and notifications to the Central Bank, including changes in executive management, debt write-offs, and shareholder information.
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