Regulatory Alerts2022-11-16
Added · Updated
Central Bank of Jordan Notice on Insurance Consultant License Renewal for 2023
The Central Bank of Jordan requires insurance consultants to submit their 2023 license renewal applications by Thursday, November 24, 2022. Applicants must provide a completed renewal form, a report of insurance consulting activities for the year, a non-criminal record certificate, an updated commercial register, detailed office address and lease agreement, proof of at least 15 hours of specialized training or conference attendance, and payment of annual fees. This directive is issued pursuant to Article 12(a) of Instruction No. 3 of 2005 regarding the licensing and regulation of insurance consultants.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 1885 / 2 / 17 Date: 30 / 4 / 1444 AH Corresponding to: 24 / 11 / 2022 AD
Dear Esteemed Insurance Consultants, Subject: License Renewal for 2023
Based on the provisions of paragraph (a) of Article (12) of the Instructions for Licensing Insurance Consultants, Regulating Their Work, and Supervising Them No. (3) of 2005 and its amendments, which states as follows: "The consultant must submit an application for license renewal annually, no later than forty-five days before the expiration of the license term, which falls on the 31st of December of each year, according to the form prepared for this purpose..."
We request that you submit your application for license renewal for the year 2023, by no later than Thursday, November 24, 2022, and must provide us with the following:
- Completion of the license renewal form available on the Central Bank of Jordan's website and attaching the specified requirements within it.
- A report of insurance consulting activities during the year according to the form prepared for this purpose.
- Providing us with a non-criminal record certificate from the competent authorities.
- Providing us with an updated copy of the commercial register or a company registration certificate from the Companies Control Department, as applicable (extracted from the website).
- Clarifying the detailed address of your office location and providing us with a recent copy of your office lease agreement.
- Providing us with evidence of your enrollment in specialized training courses in insurance activities or your participation in conferences or seminars in insurance activities with a duration of no less than fifteen hours.
- Payment of the due annual fees and attaching the deposit receipt.
Emphasizing the necessity of submitting the application by the specified deadline above so that we may proceed with the procedures for its review and take the necessary action. Please note that the aforementioned forms are published on the Central Bank of Jordan's website (www.cbj.gov.jo).
Accept our highest regards,
The Central Bank of Jordan
[Signature and Seal of the Central Bank of Jordan]
P.O. Box 37, Amman 11118 - Jordan • Phone: 4630301 • Fax: 4638889, 461330, 639730 e-mail: info@cbj.gov.jo website: www.cbj.gov.jo