Regulatory Alerts2024-09-22
Added · Updated
Circular No. 10-2-15226 dated 22-9-2024
The Central Bank of Jordan requires Jordanian banks to ensure that women constitute no less than 20% of their board of directors, effective from the beginning of 2026. This mandate applies to regular members and representatives of legal entities who meet the conditions specified in the Banking Law No. (28) of 2000. If a bank fails to meet this threshold, it must disclose the reasons for non-compliance in its annual report.
[Logo of the Central Bank of Jordan]
Reference No.: 10556 / 2 / 10 Date: 18 / 3 / 1446 AH Corresponding to: 23 / 9 / 2024 AD
Circular to Jordanian Banks Operating in the Kingdom
Further to the requirements stipulated in Paragraph (24/e) of the Corporate Governance Instructions for Banks No. (2023/2) dated 2023/2/14, and with the aim of ensuring gender diversity in the composition of bank boards of directors, each bank is required to ensure that women represent no less than 20% of the total number of board members, provided that they meet all the membership conditions specified in the Banking Law No. (28) of 2000 and the aforementioned instructions, whether as a regular member or as a representative of a legal entity. This requirement shall apply effective from the beginning of 2026.
Furthermore, in the event that the aforementioned percentage is not complied with, the bank must disclose the reasons for such non-compliance in its annual report.
[Signature] Governor Dr. Adel Al-Sharkas