Central Bank of Jordan Memorandum on Banking Hours and System Operations for Ramadan 2022

Central Bank of Jordan

Reference No.: 2/10/333 Date: 25/8/1443 AH Corresponding Date: 28/3/2022 AD

Memorandum to Licensed Banks No. (10/2022)

Greetings,

On the occasion of the approaching 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 interaction shall commence at 10:00 AM and end at 2:30 PM.
3. The daily working hours for the "Jordan Real-Time Gross Settlement System" shall be as follows: a. The system's working day begins at 9:45 AM within the period of bilateral transfer exchange between members and continues until 2:30 PM. b. The "Liquidity Period" begins at 2:30 PM and continues until 3:00 PM. During this period, transfer orders are processed only to settle pending orders in the queue or existing daytime repurchase operations. c. The working day in the system ends at 3:00 PM.
4. The daily working hours for the "Automated Clearing House (ACH) System" shall be as follows: a. The first exchange session of the working day begins at 10:00 AM and continues until 11:15 AM. b. The second exchange session of the working day begins at 11:45 AM and continues until 1:15 PM. c. The third exchange session of the working day begins at 1:45 PM and continues until 2:15 PM.

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Central Bank of Jordan CENTRAL BANK OF JORDAN

d. The fourth (evening) exchange session for financial movements carrying a subsequent value date begins at 2:30 PM and continues until 3:00 PM. e. The working day in the system ends at 3:00 PM. 5. The time for receiving deposits in the Jordanian Dinar deposit window shall be from 1:45 PM to 2:42 PM. 6. The check exchange time is determined through the Electronic Clearing System as follows: a. Check submission for the session begins at 2:30 PM and continues until 12:30 PM of the following working day. b. Responses begin in the morning of the working day and continue until 2:00 PM of the same day. 7. The Bank's Cashier Office at the Central Bank begins dealing with licensed banks for the purposes of cash withdrawal and deposit from 10:00 AM to 2:00 PM. Compliance with the specified times is requested as it is of utmost importance. 8. There is no objection to banks, at their discretion, extending 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. We emphasize the necessity of notifying us in advance of the working hours during the month and the names of the 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 be well every year.

Please accept our highest regards,,,

Governor Dr. Adel Al-Sharkas

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