Regulatory Alerts2021-11-14
Added · Updated
Central Bank of Jordan: Renewal of Insurance Broker License for 2022
The Central Bank of Jordan requires insurance brokers to submit license renewal applications for 2022 by Thursday, November 25, 2021. Applicants must complete the official renewal form and provide a statement of activities, a non-criminal record certificate, a signed declaration under Law No. 12 of 2021, an updated commercial register, and proof of office lease. This directive applies to all insurance brokers and authorized employees practicing in the Kingdom.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Reference No.: 12343 / 2 / 17 Date: 5 / 4 / 1443 AH Corresponding to: 10 / 11 / 2021 AD
Dear Insurance Brokers,
Subject: License Renewal for 2022
Pursuant to the provisions of paragraph (a) of Article (10) of the Instructions for Licensing Insurance Brokers, Regulating Their Activities, and Defining Their Responsibilities No. (11) of 2005 and its amendments, which stipulate the following: "The broker 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 license renewal application for 2022 by no later than Thursday, November 25, 2021, and must provide the following:
- Completion of the license renewal form available on the Central Bank of Jordan's website, along with the requirements specified therein.
- A statement of insurance brokerage activities conducted in the Kingdom during the year, according to the form prepared for this purpose.
- A certificate of non-criminal record from the competent authorities.
- Signing the attached written declaration in accordance with the provisions of Article (22) of the Law Regulating Insurance Activities No. (12) of 2021, for each insurance broker and authorized employees practicing insurance brokerage activities.
- Providing 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 a recent copy of your office lease agreement.
We emphasize the necessity of submitting the application by the specified deadline above to enable us to proceed with the study procedures and take necessary actions. Note that the aforementioned forms are published on the Central Bank of Jordan's website (www.cbj.gov.jo).
Accept our highest respect,
The Central Bank of Jordan
Copy to: The Jordanian Association of Professional Insurance Brokers
P.O. Box 37, Amman 11118 - Jordan • Tel: 4630301 • Fax: 4638889, 4639730, 461330 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo