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2023-03-15

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Central Bank of Jordan Memorandum No. 12/2023 Regarding Working Hours During Ramadan 2023

The Central Bank of Jordan mandates that licensed banks reduce their official working hours to 9:30 AM–3:00 PM and public counter services to 10:00 AM–2:30 PM throughout Ramadan 2023. The memorandum specifies adjusted operating hours for the RTGS-JO system, deposit windows, and the Banks' Fund, while permitting banks to extend evening hours for customer service provided they notify the regulator in advance and revert to standard schedules after the month. These directives apply to all licensed banks in Jordan.

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CENTRAL BANK OF JORDAN

Reference No.: 5361/10/2 Date: 23/8/1444 AH Corresponding to: 15/3/2023 AD

Memorandum to Licensed Banks No. (12/2023)

Greetings,

On the occasion of the upcoming holy month of Ramadan, please be informed of the following:

  1. The official working hours for licensed banks throughout this holy month shall be from 9:30 AM to 3:00 PM.

  2. Public counter services shall operate from 10:00 AM to 2:30 PM.

  3. The daily working hours for the Real-Time Gross Settlement System - Jordan (RTGS-JO) shall be as follows: a. The period for exchanging bilateral transfers between members starts at 9:45 AM and ends at 2:30 PM. b. Receipt of netting files from retail payment systems for settlement on the system begins at 10:00 AM and ends at 2:15 PM. c. The liquidity period starts at 2:30 PM and ends at 3:00 PM. During this period, only transfer orders necessary to cover pending orders in the queues or existing daytime repurchase operations shall be transmitted. d. The working day in the system ends at 3:00 PM.

  4. The deposit window for Jordanian Dinar deposits shall accept deposits from 1:45 PM to 2:42 PM.

  5. The Banks' Fund at the Central Bank shall begin transactions with licensed banks for cash withdrawal and deposit from 10:00 AM to 2:00 PM. Compliance with the specified timings is of utmost importance.

  6. Banks are permitted, at their discretion, to extend official working hours and/or evening hours during the holy month of Ramadan to provide banking services to customers, provided that the bank returns to its regular schedule after the end of the holy month. Banks are reminded of the necessity to notify us in advance of the working hours during this month and the names of branches/offices whose hours will be extended.

Taking this opportunity to offer the best congratulations and greetings for the arrival of the holy month of Ramadan, and may you all be well every year.

Please accept our highest regards,

[Signature] Governor Dr. Adel Al-Sharkas

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