RegAlert

Rule · CBJ · 11 Dec 2017

Circular Amending the Maximum Tenor for Customer Debt Restructuring

credit

The Central Bank of Jordan amends Circular No. (10/1/11084) to allow licensed banks to extend the maximum tenor for customer debt restructuring from eight to ten years. This change applies to the period specified in Item (9/B) of the Instructions for Dealing with Customers issued under Circular No. (56/2012). Banks must ensure that this extension does not cause debt burden ratios to exceed those specified in their approved credit policies.

JordanCentral Bank of Jordan

10/1/
/ /1440 AH
/ /2018 AD
Circular to all licensed banks

Subsequent to our circular No. (10/1/11084) dated 27/8/2018, and in light of the inquiries received regarding the content of this circular, it has been decided to amend Item (First/A) of the aforementioned circular to read as follows:

"A bank may exceed the period specified in Item (9/B) of the Instructions for Dealing with Customers issued by the Central Bank of Jordan under Circular No. (56/2012) dated 31/10/2012, as amended by Circular No. (57) of 2013 dated 20/5/2013, such that it does not exceed ten years (instead of eight years) from the date of disbursement, rescheduling, or restructuring, provided that such facilitation assists customers in facing the financial burdens incumbent upon them, and provided that this does not result in exceeding the debt burden ratios specified in the bank's approved credit policy."

Please accept our highest regards,

The Governor
Dr. Ziad Fariz

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Instructions on Dealing withCustomers Fairly and Transparently2012 · CBJInstructions on Dealing with Customers Fairly and Transparently (2012-10-31)Circular No. 10/1/11084 dated2018-08-27Not in RegAlertCircular No. 10/1/11084 dated 2018-08-27 — Not in RegAlertCircular Amending the MaximumTenor for Customer Debt Restr…2017-12-11 · this documentCircular Amending the Maximum Tenor for Customer Debt Restructuring (2017-12-11)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Amends
  • Instructions on Dealing with Customers Fairly and Transparently2012 · CBJ

    “A bank may exceed the period specified in Item (9/B) of the Instructions for Dealing with Customers issued by the Central Bank of Jordan under Circular No. (56/2012) dated 31/10/2012, as amended by Circular No. (57) of 2013 dated 20/5/2013…”

  • Circular No. 10/1/11084 dated 2018-08-27Not in RegAlert

    “Subsequent to our circular No. (10/1/11084) dated 27/8/2018, and in light of the inquiries received regarding the content of this circular, it has been decided to amend Item (First/A) of the aforementioned circular to read as follows:”

Timeline

This document amends: Instructions on Dealing with Customers Fairly and Transparently

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