Circular No. 28/2/3923 dated 26/2/2025 regarding the appointment of senior executive management

The Central Bank of Jordan mandates that microfinance companies operating in the Kingdom must obtain prior non-objection from the Bank before appointing employees to senior executive management positions on a temporary basis for periods exceeding one month. This requirement enforces strict compliance with Articles 11, 13, and 17(a) of the Corporate Governance Instructions for Microfinance Companies No. (2020/10) dated 6/12/2020.

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CENTRAL BANK OF JORDAN

Central Bank of Jordan

No.: 3923 / 2/28 Date: 27/8/1446 AH Corresponding to: 26/2/2025 AD

Circular to Microfinance Companies Operating in the Kingdom

Greetings,

It has been observed recently that some companies are appointing employees to occupy certain positions in senior executive management on a temporary basis for a period exceeding one month without obtaining the prior non-objection of the Central Bank of Jordan in cases requiring such approval. In this regard, we emphasize the necessity of full compliance with the Corporate Governance Instructions for Microfinance Companies No. (2020/10) dated 6/12/2020, and specifically the provisions of Articles (11, 13, 17/a).

Please accept our highest respect,

The Governor Dr. Adel Al-Sharkas

Central Bank of Jordan P.O. Box (37) Amman 11118, Jordan Email: info@cbj.gov.jo Website: www.cbj.gov.jo Phone: +962 6 463 0301 Fax: +962 6 463 8889

Source: Central Bank of Jordan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works