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2024-01-02

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Circular No. 53/14/4/9 dated 2 January 2025 regarding final financial data requirements for 2024

The Central Bank of Jordan requires licensed exchange companies to submit their final financial data for 2024 by the end of March 2025, in compliance with IFRS and specific regulatory instructions. The circular mandates the use of specific foreign currency and precious metal exchange rates as of December 31, 2024, for valuation purposes. Companies must also submit detailed reports on their top five markets for both receiving and issuing remittances, including transaction volumes, revenues, and average commission rates. Failure to comply subjects the entities to penalties under Article 26 of the Exchange Business Law No. 44 of 2015.

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Central Bank of Jordan

Reference: 53/14/4/9 Date: 2 Rajab 1446 AH Corresponding to: 2 January 2025

Circular to Licensed Exchange Companies

Greetings,

Based on the provisions of Article (22/b) of Exchange Business Law No. (44) of 2015, we would like to remind you of the necessity to provide us with your company's final data for the year 2024 in a formal manner that adheres to International Financial Reporting Standards. This data must include all clarifications related to it and align with the requirements of Article (6) of the Instructions for Documenting Exchange Transactions, Retaining Them, Keeping Records and Accounts, and Preparing Financial Statements No. (2023/11), issued pursuant to the decision of the Board of Directors of the Central Bank of Jordan No. (2023/226) dated 28 September 2023, based on the provisions of Article (21) of the current Exchange Business Law and Circular No. dated 8 October 2023.

The deadline for submission is no later than the end of March.

We emphasize the importance of full compliance with the above; otherwise, your company will be subject to the penalties stipulated in Article (26) of Exchange Business Law No. (44) of 2015.

Yours faithfully,

Central Bank of Jordan

Attachments:

  1. A statement of foreign currency exchange rates for the purpose of evaluating your foreign currency asset and liability balances. As for other currencies, they are evaluated according to the average rate as of the end of the last working day of December 2024, taking into account the evaluation of foreign currency asset and liability balances that experience noticeable price fluctuations in accordance with International Accounting Standards.
  2. A statement of the average price per ounce of gold, silver, and platinum as of the end of the last working day of December 2024, for the purpose of valuation in Jordanian Dinars.
  3. A form listing the names of the top (5) markets (countries) with which the company deals in the field of issuing remittances, the volume of such transactions, the revenues derived from them, and the average commission rate collected during the year 2024.
  4. A form listing the names of the top (5) markets (countries) with which the company deals in the field of receiving remittances, the volume of such transactions, the revenues derived from them, and the average commission rate collected during the year 2024.

Phone: +962 6 4630301 Fax: +962 6 4635615 Email: info@cbj.gov.jo Website: cbj.gov.jo Central Bank of Jordan P.O. Box (37) Amman, 11118 Jordan

Central Bank of Jordan Daily Foreign Exchange Rates Circular for Valuation Purposes

Reference: 21174/215/8/5 Date: 29 Jumada al-Thani 1446 AH Corresponding to: 31 December 2024 Time: 08:12

We list below the foreign currency exchange rates for valuation purposes for Tuesday, 31 December 2024, in fils:

CurrencyAverage Rate
US Dollar709.000
Euro737.675
British Pound889.475
Swiss Franc785.115
Japanese Yen / per hundred453.805
Swedish Krona64.310
Lebanese Lira / per thousand7.920
Saudi Riyal188.790
Bahraini Dinar1879.390
Kuwaiti Dinar2301.275
Canadian Dollar494.045
Pakistani Rupee / per ten25.445
Indian Rupee / per ten82.835
Australian Dollar440.750
New Zealand Dollar399.130
Norwegian Krone62.565
Chinese Yuan / per ten971.480
Danish Krone98.910
UAE Dirham193.035

Central Bank of Jordan P.O. Box 37 Amman - Jordan | Phone +962 6 4630301 | Postal Code: 11118 | Fax +962 6 4638889 Computer Reference: CUR_EVALUATION_DB_R | Page 1 of 1

Central Bank of Jordan CENTRAL BANK OF JORDAN

We list below the average price per ounce of gold, silver, and platinum, weighing (31.1035) grams and with a purity of (995) thousandths or more, as of the end of the last working day of December 2024, for the purpose of valuation in Jordanian Dinars:

MetalAverage Rate
Ounce of Gold1,848.030
Ounce of Silver20.492
Ounce of Platinum643.453

Central Bank of Jordan CENTRAL BANK OF JORDAN

Company Name .................................... Statement of the names of the top (5) markets (countries) with which the company dealt in the field of receiving remittances during the year 2024, including the volume of such transactions, revenues derived from them, and the average commission rate collected:

In Jordanian Dinars

Market / CountryTotal Volume of Transactions in Receiving RemittancesRevenues DerivedAverage Commission Rate Collected (Market)
Total

Accountant Name and Signature: .................... Authorized Signatory Name for Financial Matters and Signature: ....................

Central Bank of Jordan CENTRAL BANK OF JORDAN

Company Name .................................... Statement of the names of the top (5) markets (countries) with which the company dealt in the field of issuing remittances during the year 2024, including the volume of such transactions, revenues derived from them, and the average commission rate collected:

In Jordanian Dinars

Market / CountryTotal Volume of Transactions in Receiving RemittancesRevenues DerivedAverage Commission Rate Collected (Market)
Total

Accountant Name and Signature: .................... Authorized Signatory Name for Financial Matters and Signature: ....................

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