Regulatory Alerts2019-04-02
Added · Updated
Circular No. 1 of 2019 Regarding the Implementation of the Central Bank of Jordan's Anti-Money Laundering and Countering the Financing of Terrorism Regulations
The Central Bank of Jordan mandates supervised financial institutions to implement the 2018 Anti-Money Laundering and Countering the Financing of Terrorism Regulations by establishing internal controls, compliance functions, and risk assessment procedures. These institutions are required to conduct customer due diligence, monitor transactions, maintain records, and promptly report suspicious activities to the Financial Intelligence Unit. Additionally, supervised institutions must provide adequate training to employees on anti-money laundering and counter-terrorist financing procedures. The circular takes effect from the date of its publication in the Official Gazette.