Circular No. 3/10/14960: Extension of Payment Deferral Measures for Individuals and Companies Affected by COVID-19

In the name of Allah, the Most Gracious, the Most Merciful

[Logo of the Central Bank of Jordan]

Number: 3/10/14960
Date: 7/4/1442 AH
Corresponding to: 22/11/2020 AD

Circular to Banks Operating in the Kingdom

Greetings,

In light of the continued impact on a number of economic sectors in the Kingdom due to the spread of the coronavirus (COVID-19), which negatively affects the cash flows of bank clients within these sectors, I have decided to extend the implementation of our Circular No. (3/10/4375) dated 15/3/2020, concerning the requirement for banks, based on their assessment and study of their clients' cash flows, to defer scheduled installments for affected individuals and companies exclusively, without considering this as restructuring or scheduling, according to the details outlined in the aforementioned circular, until June 30, 2021.

Reaffirming what was stated in our Circular No. (3/10/8771) dated 20/7/2020, regarding the necessity to take into account that the concept of the affected includes, in addition to individuals whose income or salaries were interrupted or reduced due to the coronavirus pandemic, all working individuals whose salary increases and/or bonuses were postponed, and requiring banks to deal with these circumstances with the highest degrees of flexibility and to take all necessary measures aimed at alleviating hardship for affected individuals and sectors.

Please accept our highest regards,

Governor
Dr. Ziad Frieze

P.O. Box 37 • Amman 11118 Jordan • Phone 4630301 Fax 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo